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To create a rental agreement, start by choosing a rental agreement template linked in the video description. Fill out the form, beginning with the agreement's effective date. Enter tenant details, including names, address (e.g., John Doe, 123 Tenant Street, Miami, FL 12345), and phone number (123-456-7890, tenant@example.com). Next, input the landlord's information (e.g., Metdaq, 321 Landlord Example Street, Miami, FL 12345, phone 111-222-3333, email landlord@example.com). Include the premises address (e.g., 111 Premises Example Street, Miami, FL 12345), the start date for tenant occupancy (January 1, 2021), and specify the duration guests are allowed to stay (14 days).