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In this tutorial, the speaker breaks down the components of a rental contract for private rentals. The contract features the company's name at the top, followed by contact information. The second page includes essential customer details such as their name, address, driver's license number, state, expiration date, date of birth, and phone number. Additionally, the contract specifies the unit number and the dates and times for both the vehicle's rental and return. This structured approach ensures clear communication and proper documentation for the rental process.