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A lease agreement is essential for landlords to protect their property and avoid disputes with tenants. It is a legally binding contract that outlines the obligations and rights of both parties. Without a lease agreement, landlords may risk losing money, be liable for property damage, and have difficulty collecting rent. Creating a lease agreement is easy and crucial for managing rental properties effectively. Key elements to include in a lease agreement are the property details, tenant and landlord information, terms of the rental agreement, and rules and regulations.
