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Equipment lease agreements allow property owners to temporarily rent their equipment to others in exchange for a fee. There are various ways to structure these agreements, which may vary by state, but certain common factors apply universally. Such agreements are particularly beneficial for large jobs requiring expensive equipment that may not be needed afterward, like a steamroller. Instead of purchasing costly equipment, renting makes more sense for the job. Moreover, the equipment owner can protect their asset and ensure proper care through an equipment lease agreement, providing security for both parties involved in the transaction.
