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A lease agreement is a legally binding contract that outlines the obligations and rights of both the tenant and landlord. Without a lease agreement, landlords risk losing money, property damage liability, unpaid rent collection issues, and more. Creating a lease agreement is simple and essential for avoiding disputes and quickly resolving problems with tenants. Key components of a lease agreement include property details, tenant and landlord information, and terms of the lease. This agreement serves as a landlord's first defense in protecting their property.
