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Features:

Parties Involved:

Sections to record the name, contact information, and company name of the lessor (landlord) and the lessee (tenant).

Property Information:

Includes the address of the property being leased.

Lease Terms:

Specifies the date of commencement, date of termination, and also the area to be rented out.

Rent Calculation:

Calculates the base rent for different periods based on the pro-rata percentage held by the tenant.

Benefits:

Standardization:

The template provides a structured format for creating lease abstracts, ensuring consistency across agreements and making it easier for landlords and tenants to understand the terms of the lease.

Clarity:

The template ensures that all necessary information is included and presented in a clear and also organized manner, minimizing misunderstandings between the parties involved.

Efficiency:

Using a template saves time compared to creating a lease abstract from scratch.

Record Keeping:

The completed lease abstract serves as a valuable record of the lease agreement, which can be important for future reference, legal purposes, and also property management.

Legal Compliance:

A well-drafted lease abstract help ensure compliance with relevant legal requirements for leases.