Category Archives: Rentals

For beginners – Don’t buy heavy equipment. Rent them

Beginners joining any profession have to be really careful on the expenses they are making on their business. They might have extremely no control on their expenses as they may not understand how to block the flow of expense. They have to take care of a lot of recurring and non-recurring expenses and while they do so, they may completely lose track of the money left in their bank account. One fine day, they may find their bank account showing very less balance and may foresee lot of expenses to clear. They may find themselves to be in a very tight position and therefore it is important that they refrain from doing any expenses that is not much needed for the smooth running of the business.

To be more precise, if you are in the construction business, you got to be more cautious than ever. For timely completion of projects, you got to possess heavy equipment that are very expensive and if you do that then you tend to spend a good portion of your money for procuring the machine. This may leave you with very little money to meet other business obligations. Hence, it is advisable that if you are a beginner in the construction industry, do not spend your money in buying heavy equipment. On the contrary, you can take them on rent. That will turn out to be a good deal for you where you do not have to spend a bounty and things will be very much in your control.

Identify the heavy equipment you may need for your project:-

It is very crucial to know what type of heavy equipment is required for your business. As long as you do not know that, moving ahead will be difficult. Take guidance from people in the industry if you have any or join some blogs where you can put your questions about heavy equipment to them and you might get real good replies which will prove to be very helpful to you. Once you have identified the heavy equipment, the next goal will be to check the rental price of the machine. Not every owner of the equipment will rent it at the same price. The rental price of the machine may vary keeping into consideration the quality of the machine, the period for which it has been used. In other words, if the machine is not much older then you may have to pay more rent. However, if it is an old piece then you supposedly have to pay less for it.

Go to online portals to check the machine:-

Owners list the heavy equipment on websites that deals with selling and renting of construction machineries. Going to such websites will be really helpful to you as you will get to see a lot of options at different prices. You can then select the one that you seek to have and speak with the owner. If possible you can negotiate the price and try to bring it lower. You will end up getting a good deal at a considerably lesser price.

How to rent off-road articulated trucks

Heavy equipment always has a pretty decent sales value attached to it. This is why people do not mind paying more for equipment that will last for long and at the same time will fetch them a good price while selling it off. But selling the machine will be the end of the story and he can’t expect anything more once it’s sold. Therefore, there is something that can be done rather than simply selling the equipment. The machine can be put on rent if it is not required for the time being and once the tenure is over, it will be returned to the owner. It in fact makes more sense to let out your heavy equipment as you keep getting regular income and at the end of the tenure, you can let it out again at an increased price. Not just heavy equipment that are used for construction works but also trucks are widely let out across US.

A person can earn anywhere around $10,000 to $30,000 depending on the type of truck he has. It is simple to let out your articulated truck on internet. You only need to ensure that you have an account with an online portal that deals with letting you rent out of heavy equipment. There are some portals who only deal with selling heavy equipment and some deals with both selling as well as letting rent out. So you need to list it in the right place.

Articulated trucks are quite high in demand. It is because of their ability to carry loads of dirt at a go. It can also move on bouncy routes with the load on it. You seldom get a proper road on a construction site. More often, you have to carry the load on bouncy uneven paths. Using a normal can be a big pain for the driver but articulated trucks offer a bit ease to them while driving in such horrendous paths. Now if you have an articulated truck and you know the website where you can list the item, become a member and post the truck out there.

Few things that need to be remembered to catch the attention of the taker is how well you put down the information on the site. Just giving complete information is not much helpful. Putting it in the right way so that people find it easy to read must be your priority. Other than that, putting sufficient pictures of the truck is important. The look of the truck will form an impression in the minds of the takers and they might find your truck to be suitable over others. You can mention the rental value on the listing or can just state “Call for price”. This means that you will discuss the rental value over the phone or only when the taker likes the stuff. It also leaves both the parties with the option of negotiation.

Few basic rules to follow before you rent your heavy equipment

Before you begin doing anything, you got to follow few very basic rules that will lead to its successful completion. Be it studies, sports or business, there are some rules for everything and you can only do that thing correctly if you follow those rules. Here we will be talking about what one should do while they are renting their heavy equipment. What are the rules one should follow when they are planning to put their heavy equipment on rent.

The very basic rule while you rent your heavy equipment is to identify the machine that you want to let out. Identifying the heavy equipment is done basically by knowing if the machine is being put to any use in your existing projects. If you find the machine is lying idle for months, then that is the one you should be putting on rent.

Simultaneously, you also need to check if the machine is in order or is it lying down there because it is no longer in working condition. If this is the case, then you have to firstly get it repaired by a good service guy and then look at the possibilities if it can be absorbed into any of your existing projects. If you do not see any need for it then you should think about renting it. However, if you see that the machine can be accommodated into any of your projects, then the question of renting the machine does not arise.

After having identified the heavy equipment and also finding it qualified to let it out, the next step would be search for someone who would need the heavy equipment and would be ready to pay you the rent for using it. You may find this to be little difficult. It is not easy to get hold of someone who will treat your heavy equipment like his own, service the machine at regular intervals and keep good care of it.

You need to place ads in various websites or newspaper classifieds from where you can get people interested to take it on rent. The most viable option is to place the ad in a recognized website. A website that many follow to take heavy equipment for rent should be your next target. You need to identify such a website and place the advertisement out there. The remaining process may follow swiftly. You may receive calls from people interested in your heavy equipment. If you are willing to negotiate the price, you can do that over the phone or else you can strictly state “No Negotiation”.

Once you get a person, the next process will be to draft an agreement. You can catch hold your attorney who prepares such drafts. There you need to state in all the terms and conditions and it should be agreed upon by both the parties. Once the draft is legitimized, both the parties are bound to follow the terms of the agreement. After the agreement is done, you can hand over the machine to the user.

Expect good rental income from a wheel loader

Moving stockpiles within the construction site can be very arduous when you put people to do the work. Also, you can’t make use of big heavy equipment to just move stuffs from one place to another within the jobsite. You need something that can take care of this business and does not cost you more for it. This is when a wheel loader comes into picture and does the work for you. A wheel loader has a big bucket in the front which is used to carry the mud by dragging the bucket on the ground, fill it with the dirt and then dump it on the truck. The size of the bucket varies a lot and it starts from 1 cubic yard for smaller types of loaders to 20 cubic yard for the larger models. The bigger ones are particularly used for mining applications.

You will find a number of wheel loaders on a mining jobsite. Also they will all be big in size and not that are owned by small contractors. This also suggests that there is a wider market for selling or renting wheel loaders to such enterprises. Now if we talk about renting wheel loaders to big mining houses, you will generally see good money coming out of the deal. As long as the wheel loader is in good working condition, the mining companies are ready to pay the price you quote. They only check the quality of the machine and if they find that to be in order, they are ready to pay for its value.

This also leaves us with the question that do big mining companies take wheel loaders on rent? Well, as a matter of fact, they take most of the heavy equipment on rent. They hardly have anything that actually belongs to them. The reason they do this is every different project requires different kind of heavy equipment and they can’t afford to spend everything they have on buying machines. This is why they prefer to take equipment on rent and return it once the work is done. At times, they sub-contract the work to different contractors who are given specific responsibilities. So a contractor who is supposed to take care of one part of the job will not look into any other departments. These contractors predominantly take loaders on rent.

You can take help of any heavy equipment rental company who can crack the deal for you. These rental companies are in close nexus with different contractors and construction companies. They may know who needs what and accordingly they will create a platform where both the parties can meet each other and complete the transaction. They will charge you some fees for their service but it is really worthy. They will also take care of the agreement part and will ensure that nothing goes haywire. Conducting a smooth and fair deal is part of their responsibility. However, doing a bit of research on the rental companies always helps. It is better to be prepared from your end.

Want to rent/buy heavy equipment. Avoid involving middlemen

Heavy equipment are highly expensive items and people who deal with buying, selling or renting heavy equipment usually earns good commission out of it. However, the person who has to pay commission may not find himself in a comfortable environment to pay money just to procure machines. The buyer in this case pays to two parties. First it is the seller and the next is the agent. So eventually, he ends up paying more for the same item and therefore he may not be so happy with the transaction. On the other hand, the seller also needs to pay his part of commission to the agent. This means that the agent gets a good deal of money from both the parties. His part of work was to understand the needs of the buyer and then search for a seller who is selling exactly what the buyer is looking for and ultimately introduce both the parties to each other. He needs to push the buyer a bit to buy the machine and if he gets convinced, the sale is done and he gets the commission.

The seller does not have much to lose here as he gets rid of the machine and does not mind paying someone who has helped him to get it sold. The problem is with the buyer who has to pay for the heavy equipment and also to the agent. Now by any way if he can manage to get the agent out and deal directly with the seller he does not have to pay any cut to anybody. So just pay the price of the machine and it belongs to you. The difficult part would be to locate the seller who will have exactly the stuff he needs.

Well there is a solution to this. We have many online portals that deal with buying, selling and renting of heavy equipment. So all you need to do is become a member of one such website and search for the heavy equipment that you require for your business. You will find almost everything under the sun. Right from scrapers to loaders and from CAT to Volvo, you will find a seller for all kinds of heavy equipment. The important part for you would be to join the portal that does not charge any fee from the buyer. The seller usually does not mind paying a small amount as fees to the online portal.

There are also some agents who work in the same manner as the online portals do. There is no harm in using the service of the agents as long as they do not bill you for earning commission. So you got to be pretty sure that they are not charging anything from the buyer and if they do, make it clear to them that you do not want their service as you do not want to pay commission to them. Try to avoid the involvement of middlemen ad it can save lot of your hard earned money.

Experiencing monetary crunch – Don’t buy heavy equipment. Rent it

People who are from the construction business frequently experience the problem of unable to buy heavy equipment dues to shortage of finance. They may have got big projects to work but often find themselves short of heavy equipment and when they think of buying few machines they experiences huge shortage of finance. Heavy equipment are thousand dollar items and you will not get any at a dirt cheap rate as long as it is an outdated model and is being used by none. Those types of machines will be of no use to you. It is better that they are sold as scrap.

So what can you do when you are in the middle of signing few very important and life changing projects and at the back of your mind you know that you are highly short of heavy equipment and are in no position to buy new stuffs. Well, the better way to deal with this kind of a situation is to rent some machines for the time you think you will need them to complete the project. Though you have to spend some money each and every month as paying rent to its owner but still you will be able to get your work done. Later if you feel like you can buy one such equipment you can take the call but till the time you are having monetary issues, you should not be thinking about increasing them by intending to buy more machines.

One of the most appropriate ways to take heavy equipment on rent is to do it online. There you can find numerous machines posted by various owners; all wanting to either sell their machines or rent it out. Searching for heavy equipment online will give you good enough options. You also will be able to see the pictures of the machine, read the description and analyze if this is what you should be looking at. Few online portals also allow you to contact the owner of the machine so that you can speak to him and clear your doubts if you have any. You can also try to negotiate the price with the owner only if he is comfortable in doing so.

It is very important that you estimate the duration for which you need the heavy equipment. It is very much possible that you have to contact different owners and take machine on rent from them. You may not find one person renting all the different types of machines you need. Therefore knowing which equipment will be needed when is very crucial. It is also possible that one owner has lot of machines with him but has listed only a few. You can check with him if he has more stocks and if he wishes to rent them as well. You may get all the fruits in one basket.

Last but not the least; make proper rental agreement with all the terms and conditions stated explicitly in it. This will help you to safeguard your rights and you do not have to pay more for anything that’s not mentioned in the agreement.

Renting an equipment can be the sole option for a financially wrecked contractor

Construction sector can at times show you the most miserable moments that one must have never dreamt of. For a person who is not doing well and also lacks vision for the company but still manages to sustain, this only indicates that his time is up. Either he changes himself and the way he works or simply change the industry. The construction business is for people who can survive the tide and take up challenges, ready to fight any odds at any given time.

People who lacks creativity and the zeal to do something big may one day not even find their place in this sector. Well, if such a situation ever comes upon a person who has sizable number of heavy equipment, he is left with very limited options. He either has to sell all the heavy equipment at a dirt cheap rate or can rent those machines to someone who can make good use of it. In this way, he can still manage to make descent money out of this transaction.

Before one think of renting his machine there are few pointers that he needs to consider.

Get the equipment repaired:-

It would be utter foolish to list the machine on rent that is not in proper working condition. Quite evidently, no one will be interested in taking a machine that is nonfunctional. You need to make sure that the machine is fixed and then you list it for rent. Take the machine to an expert mechanic and get everything fixed. You may also want to tell taker if the machine has gone through any accidents and the parts you have changed. This will let the taker know that few of the parts in the machine are absolutely new and may build his confidence in confirming the deal. In case, if there are any dents or scratches on the body of the machine, you may put some stickers of your favorite characters. Avoid names and images of any players or teams as the person who want it on rent by support a different team and that will deter him to go for your item.

 

Be clear and concise of your terms:-

You may have certain terms and conditions that you want to convey to the taker. You should state all your conditions in points and check if he is ready to accept them all. In case, if you can let go few of your conditions that are not so important, you may discard them. However, the ones that you feel are way too important, you should put them in the legal document that you will prepare before you eventually rent it out. Make sure that you are clear while conveying the rental amount and the rental period which also should be stated in the legal document.

 

Renting the heavy equipment not only gives you money during your bad phase but also leaves the possibility of you returning into this business after a short gap which would not be possible in case you decide to sell it off.

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Heavy equipment should be checked well before taking it on rent

We normally have the tendency to check the in and out of the stuff before buying it. We do this to ensure that we buy a worthy stuff and not a waste. Now when we are buying something for our business we need to be double sure that it is of good quality and will last for years. But do we have to check the quality of a product that we will be taking on rent. There should be no question that whatever we take related to our business should be of ultimate quality irrespective of us buying it or taking it on rent.

In the construction industry, companies often take heavy equipment on rent. Taking machines on rent is not a practice that is followed by the small construction companies or small time contractors but even big companies on many occasions have rented different types of equipment. They do it for a very simple reason. Construction companies deal with different types of projects for which they require different types of heavy equipment and it does not make any sense to any matured construction company to spend their money in buying heavy equipment when they have the option to get them on rent.

One of the fundamentals that one should follow before taking construction machines on rent is to check the machine well. If only the machine is in good standing that the company should be going ahead with the deal.

Locate the heavy equipment:-

Primarily you have to locate the heavy equipment that you need for your business. You can check with people in your business circle if they know anybody who is renting heavy construction machines. You can also try to get a review of the person so that you know the quality of machines he gives on rent. You can then call up the person and check if he/she has the machine that you need and if he/she has what you have been looking for then ask him to give you a time to inspect the machine. Do not give any commitment before you have seen or examined the machinery.

Check the working condition of the machine:-

The heavy equipment the person is showing you may look good from outside but you do not know its worth as long as you have not worked on it. Therefore, if you are a person who know to work on heavy machines should take a trial and check if it is working smoothly. Just in case, you do not have the technical know-how of heavy equipment it is advisable that you go along with a mechanic and an operator who will examine the machine and will give you precise suggestions. You should also check with the owner of the machine if they have recently changed any of its parts and has there been any issue with the machine that has been fixed by any mechanic. It should not happen that after you have taken it on rent and some problems resurface and you got to face the music.

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Renting your heavy equipment can fetch you good money

Big construction companies are always in search of state of the art technology machines and the ones that are redundant; they have to take the call to either sell it off or to give it to somebody on rent. Selling could be a good option but at times it becomes real tough to get buyers. Not everybody has enough money to spend in buying used heavy equipment and that too when they know that their project is only for a limited period of time and thereafter they may not need the equipment for the next many months. The big companies can’t sell their used machines to another big construction house. They have to look for small companies or contractors who ideally take machines on rent and once the work is over they give it back to the owner.

This ideally leads to two things. Since the owner do not require the machine and also does not want to keep it idle can make full utility of it and in turn can also earn some descent money and the taker in other hand also fulfills his requirement. Therefore it serves the dual purpose and makes life simpler for both the parties. However, there are few things that is needed to be taken care before you put the machine on rent.

Check if the machine is in good order:-

Since the machine was lying idle for days, there are high changes that the machine is not functioning as it should have been and therefore it becomes your priority to check if it is in good working condition. In case you see the equipment has become non-functional, take help of an expert mechanic to fix the machine. Try to replace all the faulty parts with new stuffs and ensure that you give the equipment in the same condition you would like to take had you been the taker. It is also important to paint the machine or remove any dents to give it a new look. Add some stickers on the dent to cover it.

Making an agreement is a must:-

When you are renting your equipment, it becomes very crucial to make an agreement putting every possible clause that keeps you on the safe side and also ensure that your equipment will be in order. You should state in the agreement that if anything goes wrong with the machine then you have full authority to charge penalty. An agreement will protect your rights and also the right of the taker. Hire an attorney who has experience in making such agreements. They may know what all clauses should be there in the agreement and will prepare the draft keeping in mind the interest of both the parties into consideration.

Make a quarterly visit to check your equipment:-

You must clearly state that you would like to make a quarterly visit to check your equipment The person who will be taking your equipment on rent will realize that you give lot of importance to your machine and this will compel him to take good care of your machine.

Renting heavy equipment is far better than leaving it idle

A person belonging to the construction industry has to go through different phases. Some are good, some bad and some even ugly. It is very evident that all construction companies make good money during the good times but the problem arises when the tide turns for bad and they do not have work in hand. This is when most of the companies take difficult decisions like sacking employees or disposing their resources, which heavy equipment are also a part of. It is certainly not wise to give away those expensive pieces of metal at a dirt cheap price and therefore if one has an option that can avoid them to sell the machines, they should pick that up.

Renting heavy equipment is considered to be the most viable option one can consider if they do not want to really get rid of their machines. If they pick this option, they will be able to make money on a monthly basis and can also retain the stuff once the tenure ends. This means that they never lose their title from the construction equipment and has every right to claim the machine once the period mentioned in the agreement is over.

Few things one must consider before they think of renting their heavy equipment.

Finding a taker who will take good care of the machine:-

It is very important that you get someone who will treat your machine with the same care that they would have taken for their own machine. It has been witnessed that people who rent heavy equipment use them very roughly and not care much of its maintenance. Thus, it deteriorates the quality of the machine and you may find it giving a lot of issues. In order to avoid this kind of problems, you should mention in the agreement that you can make visits to check how they are treating the machine and the visits can be in an interval of 3 months. In this way, you can ensure that your machine is in order and when you get it back, it will be working fine.

Rental contract should be in order and should protect your rights:-

When you make the rental contract with the taker, you should make sure that you pen down all the important points that will protect your rights as the giver. Please remember that you are not selling the machine that you will have no liability on it later on. You are just renting it and it should not happen that once the period is over, you get back a completely worn out machine. Also state the date by when you should get the rental money in your bank account. In case you want, you can give them some breathing space just in case they need some extension to pay the money, but that should not happen regularly. If they ask for an extension once in a blue moon, you can consider it, but if they take you for granted, it is definitely not a good sign.

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