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A lease agreement is a legally binding contract that outlines the rights and obligations of both landlords and tenants. Without a lease, landlords risk losing money due to property damage or difficulties in collecting unpaid rent. Creating a lease agreement is essential for protecting landlords' interests and minimizing disputes. Key components of a lease should include details about the property, as well as the names and contact information of the involved parties. Understanding these basics can help landlords manage their responsibilities effectively and safeguard their property.
