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A lease agreement is a legally binding contract that outlines the obligations and rights of both landlords and tenants. Without one, landlords risk losing thousands of dollars and may face challenges such as property damage and difficulties in collecting unpaid rent. Creating a lease agreement is straightforward and essential for preventing disputes and managing issues effectively. Key components of a lease agreement include details about the property, names, and contact information of all parties involved. Understanding these basics enables landlords to protect their interests and operate effectively.
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