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Room rental agreements, also known as sublease agreements, outline the terms and provisions of the original lease and serve as comprehensive references for tenant rights and obligations. The speaker, Santiago from Door Loop, emphasizes that he is not an attorney and cannot provide legal or financial advice. The goal of a room rental agreement is to define the obligations of the principal tenant subletting a room. Written agreements are legally recognized, making them essential for enforcing financial responsibilities, unlike oral agreements which can be less reliable. When creating a room rental agreement, there are no restrictions on the specificity of its content.