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Room rental agreements, or sublease agreements, define the terms and conditions of original lease agreements, serving as comprehensive references for tenants' rights and obligations. The speaker, Santiago from Door Loop, emphasizes that he does not provide legal or financial advice. A room rental agreement outlines the obligations of a principal tenant subletting a room in a rental property. Written agreements are legally binding, whereas oral agreements may not be as enforceable, making written contracts essential for subleasing. The document should cover all necessary specifics regarding the subletting arrangement.