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Equipment lease agreements are documents that allow owners of personal property to temporarily lend it to others for a fee. These agreements can be structured in various ways, and specifics may vary by state. Equipment lease agreements are especially useful for large jobs that require expensive equipment that may not be needed again, like a steamroller. Renting equipment in such cases is often more economical than purchasing it. To protect the lender's interests and ensure proper care of the equipment, an equipment lease agreement is essential.
