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Equipment lease agreements allow owners of personal property to let others use it temporarily for a fee. These agreements can be structured in various ways and may vary by state, but there are essential considerations to keep in mind regardless of location. They are particularly useful for large jobs requiring expensive equipment that may not be needed afterward. For example, instead of purchasing a steamroller for a one-time job, renting one is more economical. An equipment lease agreement helps the owner ensure proper care and responsibility for the equipment while facilitating the temporary use by the lessee.