A lease agreement template is usually a written contract between a person or organization who owns some sort of property and another party who borrows the property for a defined time period. It identifies all terms and conditions and other specific information such as, period of lease, payment and other responsibilities of both parties. If one of them breaches the agreement, that will legally obligate them to pay compensation. It is a very important document for business companies. It is imperative for both parties to thoroughly read and understand all terms and conditions of the lease agreement prior to signing…