Leases, better to have or not?

[Jim Bryant]

I have four single family homes and have been renting them out without a lease.  I started when I was 22 and I got some advice from my uncle who is a lawyer who said that "a lease gives the tenant too many rights, you're better off without one".  As I get older, I'm starting to wonder if that's a wise way to go.  

What are your experiences with leases and what makes for a good lease or a bad lease.  I will be retiring from my job soon (gotta love government employment) and will be taking a more active role in my properties than before and want to better organize what I have.  

Thanks!