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Equipment lease agreements allow owners of personal property to temporarily lease their equipment to others for a fee. These agreements can be structured in various ways and may vary by state, but there are key considerations that are universally applicable. Such agreements are particularly valuable for large jobs requiring expensive machinery that may not be needed after the task is completed, making renting more sensible than purchasing. Additionally, equipment lease agreements help owners ensure that their equipment, like a steamroller, is used responsibly and maintained properly while leased out.