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Equipment lease agreements are documents that allow owners of personal property to temporarily rent it to others for a fee. There are various ways to structure these agreements, and it’s essential to consider state-specific factors. However, certain common elements apply universally. Equipment lease agreements are particularly beneficial for significant projects requiring expensive equipment that may not be needed again—for instance, renting a steamroller instead of purchasing one. To protect the equipment and ensure proper care during the rental period, an equipment lease agreement serves as a vital solution for both the lender and the borrower.