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A lease agreement is a crucial legal document for landlords and tenants, outlining their rights and obligations. Without one, landlords risk significant financial losses, including property damage and challenges in collecting rent. A well-structured lease agreement helps prevent disputes and addresses issues effectively. Key components of a residential lease should include the property details, names and contact information of the parties involved, and other essential terms. Creating a lease agreement is straightforward, and understanding its basics can empower landlords to manage their properties more effectively.
