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In today’s video, Mike the businessman addresses the importance of having a solid rental agreement when renting out vehicles. He shares that many people, including some of his mentees, overlook this critical step due to excitement in securing clients. Mike emphasizes that a properly drafted rental agreement, ideally created by a lawyer—which he invested over a thousand dollars in—is essential. Skipping this process can lead to significant legal risks and complications, particularly if an incident occurs. He stresses the necessity of ensuring all bases are covered before collecting money and renting out vehicles.
