Tag Archives: heavy equipment rental

Few basic rules to follow before you rent your heavy equipment

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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.

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Expect good rental income from a wheel loader

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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.

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Want to rent/buy heavy equipment. Avoid involving middlemen

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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.

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Rent Heavy Equipment Texas

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

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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.

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A scraper can generate decent rental income

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If you have heavy equipment that are not in use and you do not know what you should do since you do not wish to sell it off, the best option you have is to rent it to people who need them for their construction business. There are many construction companies who are having a hard time to carry on with their business as they encounter unavailability of heavy equipment. They can’t afford to buy every kind of heavy equipment under the sun but still needs to continue with the project. This is where they need machines on rent. They understand that by taking the equipment on rent, they have to pay the rental money every month which is something that they can easily afford. Other than that, brand new heavy equipment are way too expensive and do not make sense to buy them for just one project. You never know if you will need them again for the next project as there is a possibility that you may have to use some other equipment.

A scraper has the potential to generate decent rental income. As a matter of fact, any heavy equipment has a lot of value attached and can be a good source of rental income to its owner. Therefore if you have a Scraper which is not in use and you expect to not use it for the next couple of months or years, you can let it out to someone who may have some use of it. Scraper is quite useful heavy equipment when it comes to moving dirt. Scraper is widely used in big construction as well as mining sites. You will get to see different types of scrapers in any mining site. Therefore it is never a liability when it is not in use. There are different types of scrapers and each type has its own specific purpose. There are these Coal Bowl Scrapers which are predominantly used in mining sites or the open Bowl scraper which is self-loading hauling system and it is used in almost every site.

A machine with so much use attached to it can fetch you good rental value. All you need to do is keep the machine in good working condition so that people are ready to pay the money just by having a look at the equipment. Keep the machine well maintained by servicing it at regular intervals. Replace any part that has gone faulty. Change the engine oil regularly and do everything possible to ensure that the equipment stays healthy and performs better at the jobsite.

You can list the scraper on any online portal that primarily deals with sale/rent of heavy equipment. They might charge you a bit for listing the item but that is worth the deal. You should mention about your machine in details in the description section and also add the intricacies like the rental amount and the period for which you wish to rent the stuff. Post some pictures of the item and put it on the listing. This will attract viewers who are more likely there to take scrapers on rent.

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How Heavy Equipment Rental companies stay strong

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For a company to grow and stay strong, it has to lay down several strategies and also has to work on them so that they are all executed firmly and the company gets the results of the hard work put by the employees. But is it just the strategies that play the most significant role in making a strong company. Well, there is more than one factor that comes into play to make a strong company. One needs to first understand the economics of the business. He need not be an economics graduate to understand this but need to have the basic understanding of demand and supply and if his company will be able to meet the demand in the market.

In the construction world, the heavy equipment rental companies play an instrumental role and therefore the one who is running one such business has great opportunities to take his company to greater heights. The construction industry has more newbie than the ones who are in this business for the last 20-50 years. Not just the construction companies but also individuals need heavy equipment. However, their want is quite limited and is restricted to a particular period of time. They may not need the machine for months. Therefore, it becomes appropriate for them to go for machines on rent. This suggests that there is a wider market for heavy equipment rental companies and they can use this as an opportunity to grow and stay strong.

Come up with innovative marketing plans:-

Heavy equipment rental companies should time and again come up with innovative marketing plans so that people are drawn towards them. For instance, they can chart plans like giving accessories free along with the heavy equipment till the contract is over. By not charging anything for the accessory will draw more people which eventually mean more business for the company. They can also keep offers like giving rentals at a lower price for a limited period. Construction companies are always in need of machines and if they get an offer where they have to pay less rent for using the machine, they will not want to miss it.

Provide machines that go as per the business requirements:-

In order to stay strong in the heavy equipment rental business, the company should also have a basic understanding of the construction industry and what kind of project needs what machines. So what you can do is try and fill up a form where the taker will mention in brief about his project and the machine he wants. You can then do fair deal of study on the subject and see if you can come up with any better suggestion. If you feel that the person should go for some other machine, put it forth to him. He will appreciate your help in this matter and will refer you to more people. This is what many heavy equipment rental companies are being doing to stay strong in this competitive market.

Heavy equipment should be checked well before taking it on rent

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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 a track loader

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Renting business has gained a lot of momentum in the last few years and this has led to many people taking advantage of this opportunity and letting out their heavy equipment to people who need them for their business. So if you have any heavy equipment that is being unused and you want to get rid of it, rather than doing it away completely, the better option is to rent it out. By renting it to a person, you not only earn recurring rental income but can also sell the equipment at a better price in the future. All you got to do is refurbish the machine and put it on sale. Heavy equipment that can be quickly rented are basically multifunctional. For instance, a track loader is one such heavy equipment that is viable to do every kind of construction activity which is out of its genre. It may not be the perfect tool and one would prefer to use a machine that is especially designed for a particular work but to buy different equipment for every other work is definitely not practical and also not monetarily feasible for any big construction company.

So a track loader can be called the blue eyed candy and the most preferred amongst all heavy equipment. So renting a track loader will never be an issue. You will for sure get many people who will be willing to use the machine by paying you the amount you demand. Just make sure that you do not keep the price so high that people will find it difficult to take. Since it will not produce better results than heavy equipment that is specifically designed to for a particular genre of work, you should quote an amount that people will become ready to pay.

You can advertise your wish to let out the machine on an online portal or can check with few of your pals who are connected with this industry if at all they know anybody who is looking for a track loader. It may not be a one day process as it takes time to get the right person for the machine. You got to be sure that the person will use the machine with care and there will not be any major wear and tear on it. This is perhaps the most critical part in the entire process of renting heavy equipment. Finding the right guy for your heavy equipment is important.

The other important aspect is if the taker will be ready to pay the rental price of the loader. You may quote an amount but it is very likely that the prospective taker will negotiate on it and will try to bring the price down. So you should be ready for negotiations as well and therefore should always quote the price on the higher side. Presently owners of heavy equipment are finding online portals as the most convenient tool to list their machines. You should supposedly not have any issues in renting a track loader on any online portal.

Heavy equipment industry is fast catching up the rental market

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Heavy equipment companies may experience a hard time to sell their machines in the market. They might not find buyers at all times. Due to the cost of the machine which is invariably high, not many construction companies can afford to purchase them and at the same time the needs of the companies also change which means they have to keep on changing the heavy equipment as per their needs. Now it is certainly not feasible for a small construction house to keep buying machines as per the demand of the project. Therefore the best suitable option available to them is to rent the machine till the time they need them. Get done with their work and hand over the machine to its owner.

Though heavy equipment manufacturing companies do not directly deal with renting the equipment but there are entities that make good revenue by purchasing machines from the heavy equipment companies and then renting it out to the end users. Since they are dealing with new stuff, the rental amount one has to pay is comparatively higher than the ones given on rent by individuals. They may be slightly expensive but the quality of the equipment is unparalleled with any other machine listed by any individual.

On the other hand, the equipment possessed by these entities are thoroughly checked before it is listed on their website. So it means that when the guys who want the equipment on rent comes to get the machine, he can be completely assured that he will be taking the best with him. These entities are slowly catching up the heavy equipment rental market and they particularly believe that the year 2016 will be a great year for their business. It is primarily of two reasons. The first is the construction and mining industry are at its peak and it does not seem to come down at least in this year and the second reason is people want quality stuffs and they also need assurance which is provided to them by such entities.

It has been witnessed that people who take machines on rent have a hard time to convince its owners that the machine has developed some complication that was beyond his control and the giver of the machine penalizes him for the problem. This issue is somewhat managed if they take the machine from these small companies. Since these companies have their engineers who can work on the problem they do not fine the takers for anything and everything. This actually increases the confidence of the takers on these companies and they prefer to go with them. Moreover, they are also assured that these companies pick new machines either directly from the company or majorly from banks that confiscate heavy equipment over non- payment of installments.

These companies have quite easily won over the hearts of the contractors and small construction houses and have found a good opportunity to make decent income.

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Borrow money to purchase heavy equipment or take it on rent

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Starting a new project and need heavy equipment? You are ideally left with 2 options. Either you can rent construction equipment or you can go ahead and buy it. The thing that you need to take into consideration is if you have hard cash to buy the machine or you need to finance it from a lender. The other option is more viable under certain conditions. You should rent the machine if you only need it for the project and once the work is done you have to discard it. If you fall in this condition, then renting the machine should be the most viable option for you. However, if you feel that you will require the equipment for your future projects as well, then it makes every sense to buy it.

Do not drain out all your reserves to buy the equipment:-

Just in case if you have hard cash available to buy the construction equipment, it is advisable that you do not shell out all the money to buy the machine. You never know when you will need the money and if you end up everything to procure the new machine, then you may have to experience some hard time to fix tough situations. What you can rather do is make an upfront payment of 20% of the total value of the machine and the rest borrow it from a lender. It is important that you do a thorough study of the different interest rates being offered by the financial institutions. Go to the one which will charge you with a lower rate of interest and also will not charge much closing costs. Take a calculated decision when you intend to buy a machine.

Ensure to pay your monthly payments in time:-

If you intend to purchase the machine and borrow money from a lender, you should also ensure that you pay your monthly payments in time. Please do not become a defaulter for even a month. That will have a huge impact on your credit score. So when you think about borrowing money, you should also keep in mind that you can’t play around with your credit score. These things must be planned in advance and if there are any deviations later, then that must be taken care by the reserves that you have with you.

In case you decide to take the machine on rent then you need to analyze the period for which you may need the equipment and how much are you ready to pay as rent.

Check online to rent a machine:-

The simplest option to locate the person who wants his machine to let out is on the internet. You can just type the kind of equipment you want to take on rent and the search engine will throw all the option that it has or call us at B&R Equipment. You can check the one you want and contact the giver. If you agree to his terms and conditions, you can finalize the deal.

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