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In this YouTube video tutorial, Mike the businessman emphasizes the importance of having a rental agreement when renting out vehicles. He highlights the significance of following proper processes and procedures, including creating a rental car agreement that is legally sound and covers all bases. Mike stresses the potential risks of not having a rental agreement in place, from legal issues to complications in the event of an incident. He shares his own experience of paying a lawyer to create a rental agreement and advises viewers to prioritize this step to protect their business.