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Equipment lease agreements allow owners of personal property to temporarily rent it out for a fee. They can be structured in various ways depending on state laws, but there are common factors to consider regardless of location. Such agreements are particularly beneficial for large projects requiring expensive equipment that may not be needed again, like a steamroller. Instead of purchasing the equipment, renting makes financial sense. For equipment owners, an equipment lease agreement provides assurance that their property will be properly cared for during the rental period.
