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A lease agreement is a crucial legal document for landlords, outlining the rights and responsibilities of both landlords and tenants. Without it, landlords may face significant financial risks, 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 elements that should be included in a lease agreement are details about the property being rented and contact information of the parties involved. Having this contract serves as a landlord’s first line of defense in protecting their property. Understanding its basics can significantly enhance your skills as a landlord.
