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Equipment lease agreements are contracts allowing personal property owners to temporarily rent out equipment for a fee. These agreements can vary based on state regulations, but certain key aspects are universally important. They are particularly beneficial for large projects requiring expensive equipment that may not be needed long-term, such as a steamroller. Renting is often more financially sensible than purchasing. For equipment owners, an equipment lease agreement provides assurance that their equipment will be properly cared for during the rental period, establishing clear terms for use.
