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In this video tutorial, Andrew Chung from Door Loop guides new landlords in Maryland on how to create a lease agreement. He emphasizes that lease agreements are legally binding contracts outlining the terms and conditions of renting a property. Once signed by both the landlord and tenant, the agreement becomes effective, obligating both parties to comply with its terms. Typically, the tenant pays the first month's rent and a security deposit at the start of the lease term to access the property. The tutorial also mentions the variety of rental agreements available in Maryland, aiming to help landlords draft detailed and effective lease documents.
