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Equipment lease agreements allow the owners of personal property to temporarily rent it out to others for a fee. These agreements can be structured in various ways, often varying by state, but there are key common considerations regardless of location. Equipment lease agreements are particularly beneficial for large jobs requiring expensive equipment that may not be needed afterward, making renting a more cost-effective choice than purchasing. For equipment owners, such as those with a steamroller, a lease agreement ensures the equipment is properly maintained and cared for while in use by another party.
