There are a few people who limit the number of miles a renter can drive their car. The more miles a car earns, the more it devalues. Higher mileage also leads to the need for new gearboxes, brakes, tires and important maintenance functions much faster than the average for which the lessor may not want to pay if he is not the one who puts the mileage on the car. The most common mileage limit is 12,000 miles per year over the term of the lease agreement. If your deal spans several years, you won`t be punished for more than 12,000 miles in a single year, as long as the remaining years are less than the 12,000 to make sure they`re average, but shorter rental deals may not allow for long road trips. When the vehicle rental contract ends, the renter returns the vehicle. Many leases are leases to Own, which gives the owner the opportunity to purchase the vehicle at the end of their contract. If the renter decides to purchase the vehicle, all payments made during the lease period are charged against the cost of purchasing the vehicle. There are devices that cost huge amounts of money. A company might need the equipment, but maybe not have the money or the desire to buy it directly. An equipment lease agreement must be concluded if a type of equipment changes hands. If it is not signed and detailed, it can lead to loss of ownership or no recourse to damage the equipment. Residential lease AgreementThe lease agreement (hereinafter referred to as “the contract”) was concluded and concluded on that day by , 20 , by and between , whose address (hereinafter referred to as “lessor”) and (hereinafter referred to as “lessor”) and (hereinafter referred to as “lessor”).