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Equipment lease agreements allow owners of personal property to temporarily lend it to others for a fee. Various structuring methods exist, influenced by state regulations, but certain principles apply universally. These agreements prove particularly beneficial for costly equipment needed for specific projects, such as a steamroller, which may not be required again. Instead of purchasing the equipment, renting it makes financial sense. For lenders, an equipment lease agreement provides security in ensuring proper care and responsibility for the equipment during the rental period.