Real Estate & Rentals7 min readFebruary 22, 2026
Lease Agreement Essentials: What Every Landlord and Tenant Should Know
Whether you're a landlord or tenant, understanding your lease agreement is crucial.
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Lease Agreement Essentials
A lease agreement is a legally binding contract between a landlord and tenant that outlines the terms of renting a property.
Key Components
Property Information - Full address - Unit number (if applicable) - Included amenities
Lease Terms - Start and end date - Monthly rent amount - Security deposit - Late payment fees
Responsibilities
Landlord: - Maintain habitable conditions - Make necessary repairs - Provide required notices
Tenant: - Pay rent on time - Keep property clean - Report maintenance issues - Follow community rules
Important Clauses
- 1Pet policy - Deposits and restrictions
- 2Guest policy - Limits on long-term guests
- 3Subletting rules - Permission requirements
- 4Maintenance responsibilities - Who handles what
- 5Termination procedures - Notice requirements
State-Specific Requirements
Many states have specific requirements for: - Security deposit limits - Required disclosures - Eviction procedures
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