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Equipment lease agreements allow property owners to temporarily rent out personal equipment for a fee. These agreements can be structured in various ways, influenced by local regulations. They are particularly beneficial for significant projects requiring expensive machinery, like a steamroller, which may not be needed long-term. Instead of purchasing the equipment, renting is often more practical. For lenders, an equipment lease agreement helps ensure proper maintenance and care of the equipment during the rental period. Overall, these agreements provide a smart solution for both parties involved in equipment transactions.