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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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