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In this YouTube video, Mike the businessman highlights the importance of having a proper rental agreement in place when renting out vehicles. He emphasizes the need to follow processes and procedures, including having rental agreements created by a lawyer to cover all bases. Mike stresses the potential legal and financial risks of not having a rental agreement in place, urging viewers to ensure they have one before renting out cars to clients. Skipping this step can lead to various problems, both legally and in the event of incidents.