A lease abstract template is a tool used by landlords and tenants to summarize a rental agreement. It should include the full terms of the lease, such as rent amount, security deposit, and length of the lease, as well as any special clauses. It can also include a list of all repairs and maintenance that are the responsibility of either the landlord or tenant. The template can be used to create a permanent record of the agreement and to provide a quick overview of the terms.