An equipment lease agreement is a legal contract where the owner allows another party (lessee) to use equipment in exchange for payment. Limited utilities may be included in the rent.You can use this document to outline the terms and conditions of an equipment rental. The contract between a tenant and landlord, whether based on a written lease or a handshake, is one of the most common and important deals. 1. Download the Master Rental Agreement PDF. This free equipment rental agreement template is an easy way for your equipment rental business to automate contracting. • Purchase or rental and upkeep of equipment (e.g. Use this template to rent out a residential property for a fixed period of typically one year. This agreement includes the most essential and common clauses. IMPORTANT: This document is intended as a guide to generally applicable terms and conditions of a tenancy agreement.