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Equipment lease agreements allow owners of personal property to temporarily let others use their equipment for a fee. These agreements can vary by state, but there are common considerations regardless of the location or items involved. They are particularly useful for large jobs requiring expensive equipment that may not be needed afterwards, such as a steamroller. Rather than purchasing costly equipment, it is often more logical to rent it. An equipment lease agreement provides protection for the lender, ensuring the equipment is properly cared for during the rental period.
