Property or Equipment Lease
Property or Equipment Lease
This agreement can also be encountered as a form of renting, and it is used when the owner of the property gives another party permission to use the property for a known period in exchange for monetary compensation. A property lease is generally used for renting a property or real estate, while an equipment lease is used for particular objects, such as vehicles or different types of equipment.
Cases in which you might require a property or equipment lease:
- When finding a temporary space for a business
- When renting certain equipment items such as sports equipment to private individuals
- When giving your permission to another party to perform activities on your property
- When utilizing specialized equipment.