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A lease agreement is a vital contract for landlords to protect their property and financial interests. Without one, landlords risk losing money, property damage, and difficulties collecting rent. A residential lease agreement is a legally binding document that outlines rights and responsibilities for both parties. It helps prevent disputes and provides a framework for addressing issues. Key elements to include in a lease agreement are property details, tenant and landlord information, terms of the lease, and rules and regulations. Understanding these basics will help landlords navigate the rental process effectively.
