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Equipment lease agreements allow owners of personal property to let others use it temporarily for a fee. There are various ways to structure these agreements, influenced by state laws, but certain common aspects apply universally. They are particularly useful for short-term needs, such as large projects requiring expensive equipment that may not be needed again. Instead of purchasing costly equipment, like a steamroller, renting is more practical. An equipment lease agreement protects the owner's interests by ensuring the equipment is properly maintained while being used by the lessee.
