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Equipment lease agreements allow the temporary use of personal property in exchange for a fee. Various structures exist for these agreements, influenced by state regulations. Key considerations apply universally, regardless of location or specific items involved. They are especially beneficial for significant jobs requiring expensive equipment that may not be needed again, such as a steamroller. Renting makes more financial sense in such cases compared to purchasing. An equipment lease agreement also provides assurance for the owner that their equipment will be cared for properly during the rental period.
