Mastering the Art of Drafting a Lease Agreement: A Step-by-Step Guide. Ensure clarity, protection, and mutual understanding in your rental agreements by learning the proper approach to drafting a lease agreement. In this comprehensive guide, we provide a step-by-step walkthrough of the essential components of a lease agreement, including parties involved, property details, lease term, rent amount, payment terms, security deposit, and provisions for maintenance, repairs, and termination.