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Equipment lease agreements allow property owners to temporarily lend personal property to others in exchange for a fee. There are various ways to structure these agreements based on your location, but common factors to consider include the need for the equipment, especially for one-time jobs, and ensuring the equipment is taken care of. It is more cost-effective for renters to lease expensive equipment like a steamroller rather than purchase it outright. Lenders can protect their equipment by using an equipment lease agreement.
