A master lease is a document set up between a lessor and a lessee, which spells out all of the terms and conditions of the lease agreement. This allows the current lessee to lease additional equipment with new lease schedules under the master lease, without needing to negotiate a whole new contract. This type of lease is useful when your business receives additional equipment or upgrades to the equipment. Each additional lease schedule may differ in terms, amount, and conditions, depending on your needs.
Smaller businesses may not require a lot of equipment up front, but as your business continues to grow, you need to be able to outfit your company with additional equipment. Larger businesses may simply be looking to add equipment, but not want the hassle of an entirely new lease agreement. Either way, the leasing company will help you negotiate your master lease, so any equipment your business requires in the future can easily be added to it with the terms and conditions that are right for you.