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Equipment lease agreements allow personal property owners to temporarily lend their items for a fee. These agreements can be structured in various ways and may vary by state, but there are essential considerations applicable everywhere. They are particularly useful for large jobs requiring costly equipment that may not be needed again. Instead of purchasing expensive items like a steamroller, renting is often more practical. An equipment lease agreement provides a way for lenders to ensure their equipment is properly cared for during the lease period. This agreement serves as a vital tool for both the borrower and the lender in managing the rental process.