Rent Out Your Equipment?

[JD3000]

Man, renting is my regular income since 2000. I rent cranes and bought real estate in Asia. Now I rent houses in Phuket and analyze the villas. By the way advised villas for rent in Phuket. I plan to start working with them in a few months.

Well Phuket then. I'm getting into villa analyzing asap.

 

[CanaryBoss]

We have rented equipment out from time to time. It always came with an operator. There are other smaller companies here in town that call on me for it. For example, we would send our 90’ tracked lift out (our operator/driver drives in to the job and operates it) he makes all the cuts and does all the rigging. It’s just the renters jobsite and responsibility to clean up. It’s a hard one though. A 90’ lift with an operator is $1250 was a day from me. Sure you can’t rent them anywhere else and if you need it you need it, but most people will try to find a way to pocket that $1250 first and cowboy that joker out. That’s why they work for themselves.

We had a company meeting seriously considering going all in with the rentals but declined. Our goal in potentially doing full time rental was allowing ourselves another “set” of equipment that could primarily play backup for the tree service and rent out when needed and available. I already have a maintenance team and a very regimented maintenance program in place so upkeep was not the concern. Frankly, the money is not there. It’s just not worth it no matter how we crunched it. The risk is too great and the reward is too small. I think on a smaller/simple scale, a little supplement could be made but if you break just one big thing, it will offset weeks of rental income.