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[Music] hello landlords welcome to our quick and easy explanation of what a lease agreement is and why you need one let's get to it did you know that without a lease agreement you may risk losing thousands of dollars without a contract you could be liable for property damage have a hard time collecting unpaid rent and more the good news is it's easy to create a lease agreement and once you understand the basics you'll be a landlord pro in no time first let's start by defining what a residential lease agreement is a residential lease agreement is a legally binding contract that explains the obligations and rights of both the tenant and landlord having a lease agreement helps you avoid disputes with your tenants and fix problems when they arise in the case where you have to take action to protect your property police agreement is your first line of defense next let's go over what should be included in a lease agreement basic terms should include the property to be rented names and conta...