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In this video, Mike the businessman discusses the importance of having a proper rental car agreement in place. He highlights that many people, including his mentees, often overlook this critical step out of excitement to start renting vehicles. Mike emphasizes that a well-drafted rental agreement, ideally created by a lawyer (he invested over a thousand dollars for his), is essential to protect against potential legal issues and complications in the event of an incident. He warns against the risks of renting vehicles without proper agreements, urging viewers to prioritize this aspect of their rental business processes.