An equipment lease agreement is a legal contract where the owner allows another party (lessee) to use equipment in exchange for payment. Download a free equipment rental agreement template, and view sample lease and leasetoown agreements for construction equipment.The RENTER shall keep and maintain the rented equipment during the terms of the rental at his won cost and expense. Download an equipment lease agreement template to create a contract between an equipment owner and a party looking to rent the equipment. RENT AND UTILITIES: The Tenant agrees to pay, in advance, the biweekly rental rate of. An equipment lease agreement enables someone to rent out machinery, tools, electronics, or equipment to businesses and individuals. Get a Ohio Agreement to Lease Equipment (With Warranty) here. Edit Online Instantly! Each document on 360 Legal Forms is customized for your state. "Explore our page to understand how an equipment lease contract works.