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Equipment lease agreements allow owners of personal property to temporarily let others use their equipment for a fee. Various structures for these agreements exist, influenced by state laws, but certain key elements are common across all leases. They are particularly beneficial for large jobs requiring expensive equipment, like a steamroller, which may not be needed after the job's completion. Renting is often more logical than purchasing. For equipment owners, a lease agreement ensures proper care and accountability for the equipment lent.
