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The video tutorial provides a guide on how to fill out a basic rental agreement, which is a written document outlining the agreement between a landlord (referred to as owner) and tenant (referred to as resident). The purpose of a rental agreement is to specify the responsibilities of both parties in managing and using the property. To start filling out the document, click on the "fill online" button on PDF Run's online editor. Begin by filling out the preamble with the owner and resident's names and the property address. Both parties must carefully review the terms and conditions to avoid issues during the rental period. The fillable items include the rental fee amount and the day of payment.