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Equipment lease agreements allow property owners to temporarily rent out personal property in exchange for a fee. There are various ways to structure these agreements, influenced by state laws, but some key considerations are universal regardless of location. Equipment lease agreements are particularly beneficial for large jobs requiring costly equipment that will not be needed again, such as a steamroller. In this scenario, renting is often more economical than purchasing. For equipment owners, a lease agreement ensures proper care and responsibility for the borrowed equipment, providing protection for both parties involved.