Equipment Rental Agreement Form Template

A lot of equipment from varying areas of work is not owned but rather rented. Instead of buying the equipment, they will rent them. This method saves contractors from having their expensive equipment just sitting in a warehouse. Also, this creates an area of work for the equipment renters.

Equipment Rental Agreement Form Template

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Why use an equipment rental agreement form?

Renting equipment is common practice among many industries. When an organization lacks equipment for their business, they make an agreement to rent from someone or a company. This is called an equipment rental agreement. The owner of the equipment then becomes the lessor, and the party who receives those pieces is called the lessee. Many companies can’t buy all the equipment that they need for the project they engage in. Equipment, especially machinery, is expensive. So instead of buying expensive equipment that they might not even use often, they rent for periods of time. 

Benefits of rental agreements

  • You save yourself from having to pay taxes for the equipment that you own
  • No need to have a place for the equipment
  • You don’t face the risk of getting stuck with old equipment
  • Much easier to upgrade, since you don’t need to find a place to sell what you have
  • Less worry about equipment wear, since the lessor likely has them on insurance

How to create an online equipment agreement form using forms.app?

Since there are a lot of areas where you can rent equipment, our equipment agreement form template only has the very basic stuff laid out. If you want to get specific, you can use the features of forms.app. Add your equipment types, places of use, wear and tear may be options to purchase, and many more. You can do all that easily with forms.app. When you are done creating your agreement forms, share them easily, and get notified of their answers!

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