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A lease agreement is crucial for landlords as it protects them from financial risks and property damage. It is a legally binding contract that outlines rights and obligations of both tenant and landlord. Creating a lease agreement is easy and essential for avoiding disputes and resolving issues. Key components of a lease agreement include property details, names of parties involved, contact information, and terms of rental agreement. Having a well-drafted lease agreement is essential for landlords to protect their property and rights.