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In this video, Mike the businessman discusses the significance of having a proper rental agreement when renting out vehicles. He emphasizes that many people, including some mentees, often overlook this crucial step due to excitement about getting clients. Mike highlights that he invested over a thousand dollars to have his rental car agreements professionally created by a lawyer to ensure all legal bases are covered. He warns that failing to have a proper rental agreement can lead to various issues, both legal and practical, especially in the event of an incident. The video serves as a reminder of the importance of following rental processes and procedures to protect oneself and one’s business.