Free Equipment Lease/Rental Agreement

An agreement in which one party leases equipment to another party for a period of time.

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Suppose you own a lawn care business and you have decided to rent out some of the extra equipment as an additional revenue stream. To communicate the terms and rates of your rental policy to your customers, you may consider using an Equipment Lease/Rental Agreement.

 

Using an Equipment Lease/Rental Agreement helps you organize the details of the lease, from the rental rate to the term of the arrangement. The agreement protects both the lessor (owner) and the lessee (party leasing the equipment) in the event one of the parties violates the terms of the rental agreement.

Frequently Asked Questions

 

An agreement in which one party leases equipment to another party for a period of time.

 

Instead of buying expensive equipment outright, it may be more desirable to enter into an agreement to gain temporary access to such equipment. And if you already own equipment, you may consider renting it out as an additional stream of revenue. Either way, creating and executing a written lease agreement will provide more protection for both parties than an informal rental arrangement.

To create your agreement, provide:

  • Effective Date: Give the date this lease will be signed and made effective.

  • Governing State: Select which State’s laws will govern the terms of the agreement.

  • Lessor Details: Provide the name, company formation details (if applicable), signing representative, and address of the party granting the lease.

  • Lessee Detail: Provide the name, company formation details (if applicable), signing representative, and address of the party renting the equipment.

  • Lease Term: Determine whether the leases term will be month-to-month (the lease automatically renews each month until cancelled by either party) or for a fixed term (the lease lasts for a set period of time)

  • Frequency of  Payments: Indicate how often lease payments will be made.

  • Equipment: The lease can accommodate the rental of multiple pieces of equipment. Give the name, VIN (if applicable), and rental rate of each piece of equipment.

  • Security Deposit amount (if applicable): If a security deposit is required for the lease, specify the amount the lessee will pay.

  • Penalties for nonpayment: You can choose to penalize the lessee for late payments or insufficient payments

 

Our propriety form generator will assist you in creating your customized Equipment Lease/Rental Agreement within minutes. Answering the questions is not complicated – you only fill in the requested information and we will put it together for you.

 

Once you complete the questionnaire and place your order, it will be available for immediate download in either PDF or Word document from your secure online account including a step-by-step guide on how to use your document.

 

Generally, a lease agreement does not need to be notarized – both parties only need to sign the document to make it legally enforceable. A witness may be helpful if the other party attempts to contest the document, but a notary is not necessary.

 

Please Note: The use of a notary ensures that no one challenges any signatures later and is a secure way to firmly establish the effectiveness of your document.

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Applicable to all 50 states
Applicable to all 50 states

Our documents are vetted by lawyers and are applicable to all 50 states.