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In this YouTube video, Mike the businessman emphasizes the importance of having a proper rental agreement when renting out vehicles to clients. He highlights how many people skip this crucial step, leading to potential legal and financial problems. Mike stresses the importance of having a rental car agreement properly created by a lawyer to cover all bases. Skipping this step can result in various issues, both legally and in the event of an incident. It is essential to have a legally sound agreement in place to protect yourself and your rental business.