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The free lease agreement is a complete and comprehensive rental agreement that aims to prevent future landlord-tenant issues by covering all legal, social, moral concerns that may arise. It is crucial for landlords to have a strong and bulletproof lease agreement to establish clear terms for both parties. The agreement identifies the landlord and tenants as joint parties responsible for rent and lease terms. The agreement also outlines the premises and occupants subject to the terms and conditions of the lease agreement.