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Equipment lease agreements are documents that allow owners of personal property to temporarily lease it in exchange for a fee. There are various ways to structure these agreements, and different considerations based on location. However, there are common factors to keep in mind regardless of the situation. Equipment lease agreements are beneficial for big projects that require expensive equipment that may not be needed again. It is more practical to rent such equipment rather than purchase it. For owners lending out equipment, an equipment lease agreement ensures that the equipment is well-maintained.
