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Equipment lease agreements allow property owners to temporarily let their equipment to others for a fee. These agreements can vary based on location and specific needs but share common elements regardless of the item or state involved. They are particularly useful for significant projects requiring costly equipment that may not be needed afterward, such as a steamroller. Instead of purchasing expensive machinery, renting makes more sense. To ensure proper care of the equipment, creating an equipment lease agreement is essential for both the lender and the borrower.
