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Equipment lease agreements are documents that allow owners of personal property to temporarily let others use it for a fee. There are various ways to structure these agreements, influenced by state-specific regulations, but certain key considerations apply universally. Equipment leases are particularly useful for large jobs requiring expensive equipment that may not be needed afterward. Rather than purchasing costly machinery, such as a steamroller, renting is often more practical. To ensure the equipment is well-maintained and protected, an equipment lease agreement is essential for both parties involved in the transaction.
