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Equipment lease agreements are documents that allow property owners to temporarily lend personal property to others for a fee. They can be structured in various ways depending on state laws, but there are common elements to consider regardless of location. These agreements are particularly useful for significant projects that require expensive equipment, like a steamroller, when purchasing may not be practical. Instead of buying, renting makes more financial sense. For the lender, an equipment lease agreement provides a framework to ensure the proper care and management of the equipment being leased.
