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In this tutorial, landlords learn the importance of a lease agreement, which is a legally binding contract outlining the rights and obligations of both tenants and landlords. Without a lease, landlords risk financial losses, property damage, and difficulties in collecting unpaid rent. The tutorial emphasizes that creating a lease agreement is straightforward and essential for preventing disputes and addressing issues effectively. Key components to include in a lease agreement are details about the property, the names of the parties involved, and contact information. Overall, a lease agreement serves as the first line of defense in property management.