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In this video, Mike the businessman discusses the importance of properly handling rental agreements when renting out vehicles. He emphasizes that many people, including his mentees, neglect this crucial step, often due to excitement about gaining clients. Mike highlights that having a legally sound rental car agreement, created by an attorney, is essential to protect oneself. He shares his experience of paying over a thousand dollars for a comprehensive agreement, stressing that skipping this can lead to legal issues and complications in case of accidents or incidents. Following proper processes and having the right agreements in place is vital for a successful rental business.
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