To be used when a person or business wishes to hire out equipment for use by another.
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The type of equipment is variable, anything from bikes and gym equipment, lawn mowers or property maintenance equipment, construction equipment, musical instruments, computers, or office equipment – the list is endless.
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📃TRANSCRIPT:
Equipment rental agreements can cover almost anything. The basic principle is that if the owner of equipment is letting someone else use it and charging a fee for it you will need an equipment rental agreement.
This is a simple, yet essential document that makes sure your needs are met particularly in terms of time, security deposit, insurance, potential loss of value and many other factors.
Renting can be a simple cost-effective way of using something you don't want to buy. It can be a great way to run a business or even to start a business, Either way, if you're renting to others or renting something for your own use, you need to make sure the terms of the agreement are clear and understandable.
An equipment rental agreement is generally used for the short-term and medium-term. If you want to rent the equipment for a long period of time then commercial equipment lease is the one for you.
Both of these rental agreements are available from RP Emery and Associates, each document is professionally drafted and includes easy-to-follow instructions so you can be confident your interests are protected.
Updated January 2021
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