Does Anyone Rent their Equipment?

[nimblemotors]

I am sure the large majority of people don't rent their equipment, because renters can mistreat them.
However, even if you have to fix things, it seems a good profitable business, particularly when renting older equipment
that doesn't have a high cost to purchase.

 

[4570Man]

Yes. My rate is about 40k a day on my 310. Don’t bother bringing it back. If I had the proper insurance I’d consider renting a skid steer since they’re pretty much indestructible. I’d never rent anything else especially a tractor with loader.

 

[Big Barn]

Yes. My rate is about 40k a day on my 310. Don’t bother bringing it back.

I use a similar scale for rental rates. I even throw in a $10 Starbucks gift card to show I appreciate their business.

 

[mred2]

Without the proper insurance, you might be better off to sell it to them. One accident and they own the tractor and maybe a lot more.
The big rental companies know this and it is part of doing business. If I were in business to rent, and my boss it, there is profit in it. We only rent large equipment and only for 3 month plus. They must provide proof of insurance or pay out the back side for it. The insurance pays for damage to equipment, plus liability for law suits.

 

[Industrial Toys]

A friend and customer closed their rental business, albeit no big equipment. The Insurance company put them out of business, despite having no claims, the rates just kept going up.

Then, closed their small engine business too. The odds are just stacked against the little guy. All your costs keep going up and customers expect you to fix stuff almost for free! Man, I heard some stories.

 

[Industrial Toys]

That's a pretty flimsy tractor! Yeah, personal injury would make the tractor damage inconsequential.

 

[4570Man]

A JD110 is about the same thing as a M59 and they’re neither one flimsy. They’re far robust than a compact tractor.

 

[/pine]

Most of the equipment lease and rental contracts I have seen have pretty rock solid liability waver clauses...some include insurance...

 

[4570Man]

Most of the equipment lease and rental contracts I have seen have pretty rock solid liability waver clauses...some include insurance...

Even then you’re on the hook for damage or theft of your machine.

 

[Industrial Toys]

I considered buying a 110 years ago. Still have a file about an inch thick. That is a 4000 series tractor, with some upgrades, but not powertrain.

 

[oosik]

Last time I checked the rental yards in Spokane - 25 miles away - about the only item I might ever use - walk behind rototiller. They have absolutely no 3-point implements. Now this was twenty years ago - things might have changed but I really doubt it.

 

[Industrial Toys]

I considered buying a 110 years ago. Still have a file about an inch thick. That is a 4000 series tractor, with some upgrades, but not powertrain. There were reports about the frame flexing when going over rough terrain with a loaded bucket, resulting in the fan hitting the shroud! Sorry, for something that is Yellow, in my books, that's flimsy.

And if you look under the machine without the "optional" belly plate, that is not flimsy, it's extremely delicate!

 

[4570Man]

I considered buying a 110 years ago. Still have a file about an inch thick. That is a 4000 series tractor, with some upgrades, but not powertrain. There were reports about the frame flexing when going over rough terrain with a loaded bucket, resulting in the fan hitting the shroud! Sorry, for something that is Yellow, in my books, that's flimsy.

And if you look under the machine without the "optional" belly plate, that is not flimsy, it's extremely delicate!

I’m not sure how much that matters if it falls of a truck at 60mph. And I don’t have one. I bought a 310 instead.

 

[quicksandfarmer]

Most of the equipment lease and rental contracts I have seen have pretty rock solid liability waver clauses...some include insurance...

Check if your state law considers a tractor a motor vehicle, some do. Check if your state law holds the owner and operator of a motor vehicle jointly liable for any injury to others, most do.

If you're legally liable, a contract between you and the renter doesn't get you off the hook. If the renter can't pay then you have to.

 

[/pine]

Check if your state law considers a tractor a motor vehicle, some do. Check if your state law holds the owner and operator of a motor vehicle jointly liable for any injury to others, most do.

If you're legally liable, a contract between you and the renter doesn't get you off the hook. If the renter can't pay then you have to.

I'm no longer in the contracting business so I have not seen a lease or rental contract for a piece of equipment in at least 12 years and I have no intention of bothering to check into anything of the nature...
What I was referring to is waver clauses that prevents the renter/lessee from taking action against the rentor/lessor...A third (injured) party has nothing to do with said rental contract...

 

[John Fitzgerald]

An individual would have to be nuts to rent out his/her personal equipment.

 

[Industrial Toys]

4570 man. A 310 is a real piece of construction equipment.

 

[4570Man]

4570 man. A 310 is a real piece of construction equipment.

And I still wouldn’t subject it to the horrors of renting.

 

[Tractor Seabee]

Last time I checked the rental yards in Spokane - 25 miles away - about the only item I might ever use - walk behind rototiller. They have absolutely no 3-point implements. Now this was twenty years ago - things might have changed but I really doubt it.

I haven't found anyone around this side that rents implements. Tractors, yes, but read (all) the fine print of the contract.

Ron