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Equipment lease agreements are documents that allow property owners to temporarily lend their personal property to others for a fee. There are various ways to structure these agreements, with state-specific considerations, but common elements apply universally. These agreements are particularly useful for large jobs requiring expensive equipment that may not be used again. For example, renting a steamroller makes more sense than purchasing one for a single job. An equipment lease agreement helps ensure the equipment is well-maintained while being lent out.
