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Equipment Rental: Ask These Eight Questions
equipment rental, training, maintenance and operations, rental contract
August 2, 2010 -
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This is Chris Matt, Managing Editor of Print & E-Media with Maintenance Solutions magazine. Today's tip is the eight essential questions managers need to ask before renting equipment.
The first question: Which items would improve worker efficiency the most? Manufacturers often introduce the most innovative, modern equipment to rental companies first, so rental companies might have products managers have yet to use or hear about. Using this advanced equipment can help workers complete maintenance tasks more efficiently.
Second: What is the total cost of renting the equipment? Total cost goes beyond renting a piece of equipment for a certain amount of time.
Third: Can I review the rental contract in advance? Even though rental customers rarely read the rental contract they sign, reviewing the contract in advance will prevent confusion and misunderstandings.
Fourth: When do rental companies stop the clock? Clarifying when companies stop charging for equipment use is particularly important, since some agreements state the rental period — and the amount of time for which companies charge a customer — is the entire time the rental equipment is on site, not just the amount of time workers use the equipment.
Question Five: Is there a damage-waiver fee? If such a fee exists, managers should determine if it is mandatory or optional. It also is a good idea for managers to determine the extent of the damage-waiver coverage.
Sixth question: Are weekly or monthly rates available? Knowing these rates can help managers save hundreds or thousands of dollars annually.
Seven: Does the daily rate last 8 or 24 hours?
And, finally, the eighth question: What training does the rental company provide? Rental companies have a vested interest in providing effective training, but some companies train better than others.