Tag Archives: heavy equipment rentals

Why to buy heavy equipment when you can easily take them on rent

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While you set up any form of business, you should not end up using all your capital in buying resources. Remember that you also need money to meet other operational expenses which if not taken care of at the right juncture can prove to be extremely disastrous for your business. Hence, you can’t afford to invest all your monetary resources in buying items which are however essential for your business but still can be possessed using an alternative means. It is essential to prioritize your business needs and understand if you can opt for any other means to possess a resource rather than have to buy it. In the construction sector, heavy equipment play a significant role towards the beginning and the conclusion of a project. However, these machines are extremely expensive and often not within the reach of small time contractors and construction companies. Now if you do not possess heavy equipment you have no other means to start your work. You need some equipment or the other to begin.

The solution is to rent heavy equipment if you can’t buy it. If you rent then you are only obligated to pay the rental and as long as you see a need for the machine you can continue with the rental contract and when the work is over you can hand it over to its owner. Even a small startup construction company can easily afford to pay the rental of heavy equipment. It is also easy to get hold of people who are letting out their heavy equipment on lease. All you need to do is check out on people who rent heavy equipment and see if they have the machine that you are looking for.

Other major advantage of skipping to buy heavy equipment and taking it on rent is that you do not have to worry about paying the creditor for the machine. It is obvious that if you can’t afford to buy it you will have to borrow it and then you got to pay your creditors at the beginning of each month. If in case you fail to pay them then it may have serious damage on your reputation, credit ratings and you may also end up losing your machine. This is definitely not that you would want to happen and hence carry on your work using heavy equipment that you procure on lease.

While you use heavy equipment on lease, you must ensure that you take uttermost care of the machine because if it fails to work then you got to bear the expense of repairing it and getting it back to business. You just can’t hand it over to the owner saying that the machine is faulty. Also remember to inspect the machine well before you procure it. It is advisable to go along with a mechanic or an expert to inspect the machine. If you know to operate it, try your hands on it and check if it is worthy to be taken.

 

Renting heavy equipment has become so simple

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Technology has made lives simpler in many ways. Right from the beginning of the day to the end of it, we are completely dependent on some or the other form of technology. It has also helped us a lot in managing our businesses. You pull out any business out of the blue and you will find the need of technology in it. It has helped us in a big way in becoming what we really are. Talking about the construction industry, the need of state of the art machines are hugely felt in this part of the sector. Moreover the heavy equipment are expensive and therefore it is presumably out of the reach of many. As long as one goes out to a lender to lend money to buy heavy equipment the person will be able to buy one or else he has to depend upon people who are willing to let out their machines to folks who need them for construction purpose.

Technology has played a vital role in creating a platform where the people who possess heavy equipment but do not need them for the time being can get hooked with guys who have a construction project running and are in dire need of construction machines. One can make use of this platform to meet each other’s business requirements. The party who is renting his heavy equipment needs to register on an online portal that works in the line of connecting people who wants to buy/sell/ lease heavy equipment. Once he is registered with the site, he needs to prepare a listing where he should put up pictures of the machine and give an elaborative description. This needs to be done to inform visitors about the machine and why they should take this one on rent.

The person who is listing the heavy equipment on an online portal should remember that before he registers with the portal he should also check how known it is amongst people who usually look out for renting heavy equipment. This research is important as it will give a clue to the person whether he will receive many visitors on his listing. The person will be paying some fees to the online site for listing the machine and he should ensure that he is able to rent it in the very first attempt. Spend some time on internet to know which site people prefer to go. Apart from that, what are their security policies and how effectively do they stand to protect the rights of the parties involved in the transaction.

Some online portals also have their agents who help their clients with the agreement part. It is a must to prepare an agreement before you lease out your heavy equipment. The agreement should include all the points that protect the rights of the owner of the machine. After all, you want to receive the heavy equipment in the same state as you have given it to the party.

Useful tips to rent heavy equipment

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We are all concerned about our business assets and in no way do we want that to be misused by anybody. It is therefore when we have to rent our office premise or any business related equipment for a temporary period we try to be as cautious as we can so that the person who will use it does not make a mess of it. We know that the items will come back to us and we definitely expect it to come back to us in the same state as we have given it to the user. When we are so cautious about our machines which are often meant for normal use, we can imagine how cautious we have to be when we are dealing with heavy construction equipment. These machines can’t be used in a smooth manner because it is just not meant to be used in that way. Heavy equipment are meant to work in rough conditions irrespective of how turbulent the weather is and we expect it to continue to perform in the same fashion for many more years.

When we are thinking about renting heavy equipment we just can’t afford to be callous and need to give it to a person who knows how to use it well and then also maintain it. One should follow the below mentioned tips if they are in the process of renting heavy equipment.

Try to rent it to people you know:-
If at all you are able to rent heavy equipment to a person who you have known for the last many years you will be assured that the person will use the machine in the most optimal way and will not exploit it which may cause harm to the machine. So when you have decided to lease out the heavy equipment, spread out the word in your business circle so that people who are known to you will come down to you if they are interested to take it on rent. You may also invite people who can come down with reference. You can always cross verify with the person whose reference has been used. This is perhaps one of the healthiest ways to search for guys who are looking for heavy equipment on rent.

Be clear with the terms:-
You may have several terms that you want to put across to the person who will take your machine on rent. You should be quite vocal enough and speak all the terms clearly. The taker should not have any question or doubt in his mind. Also make sure that you prepare an agreement that will contain all the terms in it. Take help of an experienced attorney who has been dealing with preparing documents for renting heavy equipment for the last many years. He will be in a better position to mention all the clauses that will protect the rights of the owner of the heavy equipment as well as the user. Make sure you have that notarized and keep a copy with yourself.

Heavy equipment rental companies

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In recent times, it has been observed that owners of heavy equipment prefer to give the machines on rent rather than keeping it idle with them. They see absolutely no sense in keeping the machine without making any use of it. Also for owners who have bought the machine by borrowing money from a lender and have no project in hand finds it extremely hard to pay the monthly payment. The solutions to deal with this problem may be few and many of them not suitable enough to be pursued. Hence, the best available option would be rent the machine to people who need them and in return make some money from the deal. Owners of heavy equipment may find it difficult to get hold of people who need exactly those machines that they possess and therefore the workaround here is to get associated with heavy equipment rental companies and assign them the work to get rent for you.

There are plenty of such heavy equipment companies that deal with renting heavy machines. How to find them is also simple. All you have to do is use internet and check for these companies on the net. The internet will throw the names of all the companies that are located in your city and some in your neighborhood. Once you get the name of the companies, you need to call them up and check if they can help you get rent on heavy equipment. Do not strike a deal with them if you find a good deal. Try to talk with other companies as well and check who gives you the best quotation. This should be your goal. Never go for less when you can get more from a deal. If possible meet the companies in person and try to get a feel of how ethically they work.

Remember to check the reviews of the rental companies on the internet. By no means should you get attached to a company that has poor reviews and complaints from all corners. They may give you brilliant offers but that is just setting of a trap. You should be wise enough to understand these things as no one can give you precise advice on this. So once you have selected a company and you decide to reach out to them, check with them if they want you to drop the machine with them or just leaving the pictures of the machine will suffice. If they ask you to leave the machine with them, be a little reluctant in doing so because then you do not have absolute control on it. Most of the heavy equipment rental companies do not ask people to drop their machines with them. They prefer to visit your place along with the client so that they can show them the machine and if the taker likes it then all the parties can talk over it.

Assigning the work to heavy equipment rental companies is one of the most preferred ways to rent heavy equipment and there is less hassle on the part of the owner to find a user.

 

Renting an excavator

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Since the construction and heavy equipment industry has risen over the years so has many other industries that are associated with them have developed in these many years. Out of the many industries, one is renting heavy equipment. It is now never a problem to let out your machines as you will always find takers for it. Gone are the days where a person had to struggle giving ads in newspapers to find someone who wants to take the equipment on rent. Now people are educated about how to move ahead with renting equipment. There are number of ways by which you can rent your machine. You can get in touch with a rental company whose main focus is to find parties who have need to give the machine and rent as well as take it on rent. So primarily, they try and bring both the parties at a common place and strike a deal between them. The other option is going online and listing your machine there.

The heavy equipment that people take more than anything is an excavator. It seems that an excavator is quite a flexible machine which can be used for multiple purposes unlike other heavy equipment. You only need to change its attachments and it gets ready for work other than excavating. Due to its flexibility, it is probably the only machine that is high in demand and often gives the owner a good rental value. You can try and know the rental value of your machine from rental companies or from websites where people list their excavators on rent. That is really not a tough job and can help you to know the correct value of the excavator.

Ensure that the excavator is in good shape:-

Before you rent your excavator, it is very important to you ensure that the heavy equipment is in good working condition. If you see any issues with it, get it fixed before you rent it to someone. It creates unnecessary hassles if you hand over the stuff with some faults in it and without informing the user about it. They might even feel cheated and many not want to do any further business with you. This all puts you in a negative light which may turn uglier if he spreads it out to other people. You may find it hard to rent the excavator to anybody else. Also, paint the machine and make it look new every time before you rent it to a new person.

An agreement is mandatory:-

You are required to make an agreement where you explicitly state that you are giving the excavator on rental basis and the person will return it with no or minor wear and tear. Also mention the amount you will receive as rent on a monthly basis as well as the tenure of the contract. Any other details that you feel is important should be mentioned in the agreement. You can appoint an attorney for this purpose who can take care of this part.

Unable to sell your heavy equipment – Try renting them

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It is quite difficult to sell an expensive item how old it may be. You may just not get any buyers and this could be really frustrating at times when you are in dire need of money. At the same time, you may want to get rid of an expensive stuff that you no longer need but you are also not ready to sell it at a dirt cheap price which is why you are not getting more buyers. The people who are interested to buy the item often show their displeasure after knowing the price of the item.

People belonging to the construction industry have often experienced this kind of situation when they are hunting for buyers to sell their heavy equipment. Either you have to sell it at a cheaper rate or you just won’t get more buyers. The reason is simple. People who would be interested to buy a second hand heavy equipment will normally be small time contractors or small construction companies who have just begun their journey in the construction sector. They will have many strong reasons will not want to buy a machine that is though quite useful to them in their business is nevertheless expensive and out of their budget.

If you are part of such a situation it will be prudent for you to give up the idea of selling the machine and think about renting it. In this way, you can earn money on the machine and then the day you feel that it has gone real old and you will not mind selling it as scrap, get hold of a scrap dealer and finish the work. Till then stick to the idea of giving it on rent and earning money without having to do much. Many big construction companies who have lot of heavy equipment under their possession normally lease their machines to small contractors who in turn work for them in their projects. In this way, the machine is used for his construction work and he also manages to make good money out of it.

If you are not a giant construction company and do not possess too many machines to follow the above idea, you can play it smart by renting it to other contractors. You will find many such people who are in hunt of guys willing to lease their machine. You have to just talk to people about it. Talk to your friends who are contractors that if they know anybody who is looking to take the machine you have on rent. Try to spread it across to as many people as you can and you will get responses. Try to give a reasonable quote that is acceptable to the other party and if all sounds good then you should go for the deal.

Before you rent your heavy equipment please try to refurbish it by painting the machine and making it look new. People expect a machine that works and you need to ensure that the parts in the machine are in good condition and it will work for the period that it will be on rent.

Renting a backhoe loader

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If you have an asset which you are not using and that can be rented should be let-out without giving much thought. The reason is if you just keep the asset with you and do not use it, with the passage of time it will wear out. This means that you do not gain anything from it and you are slowly losing out on an asset. This makes absolutely no sense. In the construction business there are many small construction companies as well as contractors who are in hunt of heavy equipment and are ready to give a good rental price if they get something worthy. So for instance, if you own a machine and you do not see any use of it in your business for the next many years then it just does not make any sense to keep it with you. You end up paying a good price to maintain the machine which you will not use for many years.

Backhoe loader is one such heavy equipment that is known for its sheer quality and high class performance. Therefore renting a backhoe loader can always assure you good returns. All that you need to ensure is that you keep the loader in good state. Keep the machine well maintained till the time it is there with you and you have put it to some use. Also before you list the machine for rent, make sure that it is up and running. Try to take some help of a mechanic. He can fix the loader if at all it has any issues. Moreover, you should paint the machine and make it look new. We all want to acquire new things in our lives. So what if the next guy will own it for few months, it will still prefer to take it once it is painted and it looks new.

Use online platforms:-

Listing the backhoe loader on an online platform is perhaps one of the best options you can use. There are number of websites that deals with selling and renting machinery online. Right from an air condition to a car, you can find everything online. You have to first become a member of one such website. Take some pictures of the loader and post it on the website. Give a brief description of the machine like since how long you hold the machine, if it has gone through any minor or major accidents or have you recently changed any of its parts and things thereon. This information will be handy for the viewer and will help them to decide if they should go for your stuff.

Do not quote a high price for an old loader:-

You should be very careful while you quote the price of the backhoe loader. If at all the machine is old and has been repaired several times, you should quote a lesser price for the item. The taker should not feel cheated or else it can lead to further complications. It will be a waste of time to get into such unwanted situations.

Renting a motor grader has now become simpler

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Construction of roads has now become a healthy business and many small contractors are lining up to get a piece of the cake. They want the road construction projects to be given to them so that they can make good money once the work is done. The overall cost of the project is understandably much lower than the actual contract price which is why contractors find it to be a comfortable one to get into. Now in the road construction project, motor grader plays quite an instrumental role. The primary function of the motor grader is to grade a piece of land and level it so that while you go to construct the road, there is no unevenness found on the surface. This process is normally done before placing asphalt on the surface of the road. In a nutshell, without the application of a motor grader, you will not be able to construct good wide roads.

Though these graders are not so expensive to buy but still contractors prefer to take them on rent. The reason is these machines are not used through the road construction process. It is only used wherever some sort of grading work is required. Alternatively, if someone owns a motor grader, he may not use it always. The need of a grader is quite specific and once the need is fulfilled the machine is left idle for most of the time. Therefore it makes absolutely no sense to buy a machine that has a lot of importance while building roads but has a very specific purpose attached to it and can’t be used for multipurpose work. The best option is to take it on rent for few months and once the work is done and you no longer need the machine, you can give it back to its owner.

This limited need of the machine gives rise to another form of business and that is renting of motor grader. There are some companies who buy graders in bulk and then they let it out to the ones who need them for road building. These companies work in close nexus with contractors who are primarily engaged in road construction work so that if ever anybody requires a grader, they can make it available for them. The rental amounts they charge from these contractors are a bit lesser than the rentals charged normally.

Now for individuals who have bought a grader and do not need it for some time can rent it on websites or can simply approach these companies who in turn will route the machine to someone who needs it. They may charge a certain amount of fee for their services. An individual can first try it out on a website and check if he gets some response and in case if things do not work out for him there, then he has these guys who can get it done for him. Overall, a grader is such a machine that has pretty decent demand in the construction arena and will never find it idle if someone wants to rent it out.

Renting a bulldozer can pay you off handsomely

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We buy heavy equipment on the basis of our needs and it has been often seen that after upgrading the heavy equipment, we are ultimately left with 2 machines of the same stature. So what we eventually think is to do away with the old one since we do not see any need of it. Well, we are wrong if we think about selling it off unless the machine is too old for anybody to use it and you sell it as scrap. However, when you have the option to rent the equipment why go for selling it. Bulldozer is often the first equipment possessed by a contractor. He may need it for his demolition business but then after a point in time he will think of upgrading his arsenal and might buy another one which is far more technologically advanced. In a situation like this, he can end up renting the previous machine and continue to make recurring income.

There is always a market for renting bulldozer:-

Bulldozers will never find themselves out of market. As long as the construction industry is in existence, dozers will have their place in this segment. Therefore, the dozer you have and you may not need it will always find someone who will want to use it. You can let it out to them by making a contract for a week or month or year or more than that and also fix an amount that you will get as a compensation for letting the other person use your machine. There are many contractors who are in constant hunt for dozers as they can’t afford to buy a new one. They are pretty happy to pay the rental money in lieu of the dozer.

Dozers are eye candy for demolition business owners:-

People who are into the business of demolition do not intend to make big investments. As a matter of fact, this is probably one of the few businesses where you do not need a lot of capital to invest to kick start your business. All you need in the form of heavy equipment is a dozer and few accessories that you need on the dozer. They certainly do not want to buy a dozer which can prove to be very expensive to them. The best alternative for them is to get it on rent. Since the rentals of dozers are comparatively cheaper than other heavy equipment, it certainly fits into their pocket. Simultaneously, getting a demolition job is simpler; they can easily afford to pay the rents without any defaults.

Can demand higher rent if machine is in good condition:-

The instrumental factor that determines the rental price of a dozer is the condition of the machine. If the machine is in good health then the price can be a bit higher but if it is not then you can’t expect a good rental value from it. This means that you got to take good care of your machine whether it is in use or not so that if ever you have to let it out, you can get a good price for it.

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Rent an excavator

For guys who has lot of heavy equipment that are lying idle for the time being and they are unsure as to when they might need them again they can rent it out to people who will make some use of it and keep the machine in working order. If you keep heavy equipment idle for a long time and then all of a sudden start using it, it will generate issues. It may just not start or might give problems for which you need the help of a mechanic to get that sorted. This is why it is always better that you rent the machine out to someone who can use the machine and also pay you the rental.

There are some companies who solely deal with renting heavy machines to contractors and other small and big sized construction companies. As a matter of fact most of the big construction companies to a certain extent depend upon rented heavy equipment. The big sized companies hire contractors for the job who in turn largely depend on rented heavy equipment. This means that as long as you have a thriving construction industry, the parallel business of renting heavy equipment will never run dry. One of the most common heavy equipment that is used in almost every construction jobsite is an excavator. So you will normally find the demand for excavators on an increasing trend and if you have them in plenty then you can for sure make good sum of money by not doing anything.

All you got to do is simply rent them out to contractors or construction companies and ensure that they do not misuse it or overload it with work. Normally people have the tendency to get more work done on heavy equipment that are rented. They know that they do not have to keep the machine with them forever and therefore do not have to bother about the maintenance and service costs. Since it belongs to you, you are supposed to make sure that the excavator is not overloaded with work and is also serviced at regular intervals.

You can rent your excavator by listing the machine on an online portal. Portals that are meant for renting heavy equipment should be used for this purpose. Register on one such website and take few pictures of the excavator to post it on the listing. Please mention the model number of the excavator on the title of the listing and be a little descriptive about the machine. You may want to add things like the age of the machine and few of its features that will attract the attention of the prospect. The pictures that you add should be clear for the prospect to make out if at all the machine is worthy to be taken on rent.

Leave your number on the listing for interested people to contact you and if they want to inspect the machine you should not have any problem with that. The website will charge you some fees to list the item but that will be too nominal and should not be an issue.