Tag Archives: heavy equipment rentals

How to motivate your people to make a successful heavy equipment rental house

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Selling small range to large scale heavy equipment is a big business and also a rewarding one and many are able to make a good career out of it but in order to make it big in this industry, it requires lot of motivation. It is not so simple to stick to this industry especially when you have cut throat competition all over the place. Here you need to know all about the machine in order to sell it. People who would be buying it will know something or the other about the equipment and may ask you numerous questions and if you are unable to answer them, you may lose the deal. If you feel that selling is not your cup of tea but you still like to stick to a business that revolves around heavy equipment then you should look to open a heavy equipment rental house. Here you do not need top notch selling skill. Anything short of top notch will do but you can’t be a complete novice as far as your subject that you would be dealing with is concerned.

It has been witnessed that people begin a heavy equipment rental house but they lack the zeal to grow. They are short of motivation that can keep them going in odd times. So the thing that is utter importance is to keep the guys motivated and keep their hopes alive that they also will be able to make it big in this domain.

Success stories and live examples can really motivate people:-

We require motivation from our peers and our closed ones to carry on with something that at times is not too interesting or due to odd market conditions, things may go against you. In situation like these, things that can really inspire us are some real success stories of people who against all odds were able to make it. So live examples of people who have bravely dealt with the problem rather than running away from it or just being sitting ducks and waiting for things to go their way. Stories about people who have turned the tide and made things go where they wanted it to. Such kinds of stories are really inspirational and heartwarming. Stories like these can have a huge impact in the minds of people who are looking to become successful in heavy equipment rental business.

Walk the talk:-

One should always walk the talk. It is no point in giving big talks to a crowd of audience when you do not have the capacity to do it. People may feel cheated by hearing to those big talks and may take whatever nice you said to them in a negative way. This can be discouraging factor and hence in order to set things right, you first have to practice what you have preached. When they see you taking the right moves towards a successful career in the heavy equipment rental business, they will automatically feel inspired by you and may take on their journey with courage and dignity

One must keep in mind before leasing out heavy equipment

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We usually get to see companies looking for sellers or leasers who are will to sell or lease their heavy equipment but they very rarely find givers in the market. At the same time, there are many people who have heavy equipment in their possession that are lying idle as they are out of projects or because they simply do not have any use of those equipment. What ironical is that they just like to keep the equipment with them instead of leasing them out to prospective takers. They often have the fear that the buyers/takers will make extreme rough use without taking proper care of the equipment. This will result in early wear and tear of the machine and they have to eventually sell it off as scrap.

In order to counter the fear of theirs, we would be focusing on few pointers that will protect the interest of the leasers and also help them to make some money.

Make your terms crystal clear in the advertisement:-

Setting up your expectation is the first thing you must do before you let out your machine to anybody. If you want them to use your machine in a particular way, then it has to be in that way and no other way or else, the person using it will be liable to pay you for the damages as well. You also have to be very specific with your terms. There should not be any scope for ambiguity and your terms should be crystal clear to the reader. If you still get calls from people, it means that they have read and understood your terms and are ready to accept it. In case, you want to pass this message to them verbally, you can talk out to them while you meet them for the deal. This will give you a message to them that you do care for your machine and if they do not comply by your terms, they will have to face the music.

The rental part should be agreed on by both the parties:-

You should know how much you can expect as rent on a monthly basis. The amount should be mentioned very clearly in the contract. If you are ready for any sort of negotiations then that also should be mentioned in it. However, if you want to stick to the price you have decided then that should be it. You can state that people willing to take the equipment on lease should have no problem with the rental amount. They may check the item and if they find it to be appropriate then make no negotiation with the rent as that will not be acceptable.

These clear messages from your end will not give the prospects any second chance to think and will be left with 2 options. If they like the stuff, then take it or else leave it. Making an agreement is very important in these cases where the period should also be clearly mentioned.

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Decrease Expenses and make Profit by Leasing Excavators for Construction

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Excavators are heavy equipment used for constructing, mining, digging and moving huge unmovable objects. They are big in size and difficult to operate .On the construction site different kinds of equipments are required like scrapers, excavators, wheel loaders, bulldozers etc. The Excavator is perhaps indispensible equipment for its wide variety of applications. It is used for both constructing and demolishing a building. Leasing excavators is becoming popular by the contractors. Before renting, here are some tips to follow:

Funds

With a range of excavators available for lease selecting the right equipment is vital. Depending on the size of the project undertaken you should lease the equipment. If the construction project is small select a less powerful excavator but if the project is a big and complex one then a heavy and powerful excavator is essential. It is important not be over budget so that you are able to meet other construction expenses. It is important to select a leasing company that suits your pocket and provide cost effective services. Prepare your budget according to your needs. Always remember that you have other expenses too like land digging, clearing the construction site etc. If you are selecting to hire a contractor, know the expenditures involved in it.

Goodwill of the company

There are plethoras of companies that offer excavators for lease. It will be shrewd that you always opt for a reputed leasing company with good feedback and encouraging reviews. You should ensure that you don’t land in any kind of problem which proves to be expensive later. Always do research online and make comparisons with other leasing or renting companies, Read reviews thoroughly that are available on sites. Also look for those renting companies online that offer good customer support for 24*7 such as quick responses to your queries, providing toll free phone numbers for conversations etc.

Excavator Rental or Leasing Costs:

Excavators can be rented for stipulated time. It can be availed on daily, weekly, and monthly basis. If the excavator is big and powerful it will cost you more money for leasing.

  • Every day charges of renting vary from $350 to $1,600 or more. Below that price you can access to a less powerful excavator.
  • Monthly rates begin at $3,000 and can go up to $15,000 or more. An excavator with middle dimension of 45,000 pound would cost $6,000 to $7,000 monthly for renting.
  • Excavator rented on weekly basis charges around $1,250 and can cost up to $5,000. For lesser price you can get a 17,000-pound small equipment.
  • Construction activities have undergone drastic changes in recent times. Today constructing a project takes four months to complete. This is due to availability of heavy construction equipments like Excavators, Tractors, Scrapers, and Loaders etc. for leasing. These days’ heavy construction equipment are technologically superior and upgraded requiring less time to complete a construction project. They are beneficial to a user since they consume less fuel and are versatile and efficient in carrying out all the activities of construction such as cleaning, grading and demolishing a site.

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Renting a heavy equipment from the owner/rental house

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There are many new construction companies who are struggling to keep their businesses afloat. Every other company is experiencing some or the other problem. Some are short of finances; some are simply not getting enough businesses to keep running their business and some don’t have enough money to buy the right set of heavy equipment. Well, many people fall in the third segment. They have to wind up their business due to scarcity of funds to buy required heavy equipment. The problem seems to be a big one with sort of no solution. However, there is one solution that can work thing out in a positive way for many new and not so financially strong construction companies. They can rent the heavy equipment that they need to complete the project.

There are few things that one might want to consider before they finally decide to rent the heavy equipment.

Kind of equipment they need for the project:-

Heavy equipment are of many types and can be used for multiple purposes. Hence, it is very important to identify the kind of heavy equipment that one may require for the project. One can’t just invest his money in renting the top notch equipment even though he/she does not see much use of them. He/she has to categorize the equipment on the basis of their outcome and simultaneously start hunting for equipment that meets his/her requirements and also fulfills the need of the project. Once the person knows the kind of equipment he/she needs, things will become easier for them. However, for people who don’t have much knowledge about heavy equipment should first hire someone who can give him clear guidance about the equipment and not land them into any mess.

Hunt for owners who want to rent their equipment:-

After identifying the heavy equipment, the next big thing will be to search the person who will be ready to rent the equipment at a price that would be amicable to both the parties. You can make use of internet where you will find such advertisements in bulk. You need to check the features of the equipment and check if this is what you require. Once you have zeroed on the item, you get in touch with the owner/rental house and set up a meeting.

Ensure you go along with a technician to inspect the equipment:-

You may be a good visionary and know what are needed to run a business. You may be a good strategist and a thinker who can make future plans for the growth of the company. But if you don’t know much about heavy equipment going without a sound technician can cost you dearly in the bargain. Therefore, it is imperative that you go along with a heavy equipment technician or a mechanic who knows in depth about the model you are going to inspect. They may charge a fee from you which will be very nominal. However, that will be very helpful to you in making the right choice for the benefit of the project.

 

Advantages of renting heavy equipment

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The constructional and industrial companies should decide very carefully whether to buy or rent heavy equipment. Sometimes, renting the equipment can be more beneficial to buying the equipment. If you too planning for getting equipment, first consider for what purpose you are going to use it. This consideration will help you to decide whether you should buy or lease the equipment. Undoubtedly renting the equipment has some major advantages. Some of those advantages are given below.

Advantages of renting heavy equipment

The growing sectors of industries are becoming busy with heavy constructional works. They don’t want to spend much money on getting the equipment while at the same time not ready to compromise with the quality. Here comes the idea of renting the equipment.

  • If you are leasing a heavy equipment, you will not be burdened with the job of maintaining it regularly. Though there are some heavy equipment which require a bit maintenance through routine testing. But, in case of renting, it is the renting company which is going to do this task for you. This will enable you to schedule your work properly without investing any time and money in maintenance of the equipment.
  • One important aspect of the machine ownership which most of the companies don’t consider before purchasing is the storage facility. They left the equipment in open spaces which ultimately lead to the damage of the equipment. When the person is opting for renting the equipment, he doesn’t need have to spend much money in creating a storage building or renting it. It is the duty of the renting company to manage a space for storing the equipment properly.
  • Another great advantage of leasing the equipment is the transportation facility. Suppose, your working place is far away from your equipment storing room, then transporting the equipment to the worksite can be time consuming, expensive and tiresome. In such a case, most of the people hire a third –party company to transport the equipment. Too much complicated, right? If you opt for renting, the company will provide you with transportation of the equipment without any extra charges to the worksite.
  • The most common thread which unites all the operational advantages to leasing is the reduction in labour costs and time. The hidden costs of purchasing the equipment often make it very difficult. If you are deciding to rent the equipment, go on because it is economic too. No additional costs are required to upkeep the machine in case of leasing it. Sometimes, the companies have to set up complete divisions only for proper handling of the logistics and support their equipment.

If you have low budget and cannot afford to buy the equipment, you should kick on for leasing it. Look for the company which will offer you a well-stocked and maintained fleet of heavy constructional equipment. The company should also provide you with top-notch quality service. So, go ahead and get your equipment type on leasing and start the construction business.

Be Careful While You Rent Heavy Equipment Online

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As the internet has become so popular all over the world, doing business online is the best way to earn maximum profit. The benefits of doing online business are not unknown to us. Where the others have to pay a lot of money for buying the office building for the business, online business would save you a lot of money in that case. But, the best part of doing online business is to acquire the target consumers through the internet. In today’s busy world where people do not have the time to look for advertisements all around them, online advertisements would provide the consumers the opportunity to get the desired results. Technology has reached such a zenith that not only advertising for your products, you can even sell or buy products online.

One of the most important and mostly needed products that have a constant demand in the market is the heavy construction equipment. In this 21st century, constructions projects are the basic parameter of growth and development. And to achieve this, the heavy construction equipment has the most important role. All the construction companies are, therefore, in a constant need for the heavy construction equipment. As the businessmen of the heavy construction equipment have gone online, the heavy construction equipment can be bought or sold over the internet. Not only this, you can also hire an equipment online site, and if you have an equipment that you do not want to sell but utilize for earning money, putting it for rent over the internet is the best way to earn some money.

Factors to consider while you rent heavy construction equipment online:

When you rent heavy construction equipment online, you have to be very careful about various factors. This is because you do not have the opportunity to look at the equipment with your own eyes.

  • Make sure that the equipment you are renting suits your requirement:

When you are in need of heavy construction equipment, you must check it with all the variety of equipment that you are getting online. Tallying all the features and details of the equipment with that of your requirement is the most important thing.

  • Know about the manual and safety measures:

When you are renting the equipment, you are actually obliging to all the rules and regulations of the equipment.

Know about the rental details and papers:

Before you make the payment, you must have a clear contract with the company that is offering the equipment. Before they offer the delivery of the equipment, all these should be settled. Whether the equipment has all the papers or not, is very important. Pollution rate, oil consumption rate, all must be checked beforehand.

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Types of renting heavy equipment

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Most of the equipment manufacturers have an affiliated renting company. It permits them to assist their customer’s monetary transactions quite easily.

There are three main types of renting- finance renting, operating renting and contract hire.

Types of renting

  • Finance leasing: – It is also known as full payout lease. This kind of leasing or renting helps you to get all the financial advantages and risks without any legal title. This renting rate is calculated to get the total value of the asset including finance costs during the contract time period. The asset is handover to a third party at the end of the renting period. Here, you can get a lion’s share in the proceeding sales. This can happen only if the renting period is not extended. You cannot become the owner of the equipment at anytime, unless you go for a private arrangement with the third party. As you can extend your renting contract period and already have paid almost the full amount during the initial phase, so you have to pay very little during the later extended period of the contract. It is sometimes referred to as “papercorn rental”.
  • Operating lease: – Unlike financial leasing, operating renting is like a regular rental. It comes with a smaller time period. The renter here tries either to sell the equipment in a second-hand market or to rent it again to avoid the need to regain the total asset price by the regular lease payments. There may be a choice for elongating the renting span at the end of the initial rental phase. Just like the financial renting, you cannot become the owner of the equipment at any point of the time. But, contrary to financial leases, you will not get a single penny in the sales procedure.
  • Contract Hire: – It is another kind of operating lease which involves a lot of services such as management, maintenance or replacement if the equipment needs to be repaired.
  • Hire purchase:- In this kind of leasing agreement, you will get an option to purchase the equipment. They will confer the legal title to you when you have cleared al the payments. The term of a hire purchase should be notably shorter than the working life of the equipment. As you have bought the machine outright, you can easily claim capital allowances from the renting company to make as much profit from it as you can. Hire purchase agreements are written especially for domestic users only. Business owners can avail this type of renting.

 

It is very important for you to count on your future needs. Every kind of renting option has its own merits and demerits. It will have an everlasting effect on your monthly payments. The renting payment heavily depends upon the total value of the equipment, rate of interest and duration of the renting.

If you have any query regarding the procedure of renting and its terms and conditions, then you should immediately seek the help of your advisor for further assessment.

What are the Operational advantages of renting heavy equipment?

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Manufacturers of construction equipments have noticed the fact that the big economic environment is changing its gear to the renting of heavy equipment. As most of the construction companies are now busy with their work, that’s why they don’t want to spend much time and money in buying the equipment. Renting has many advantages which are discussed below:

Operational advantages

    • Extra-capacity:- To the companies who have already made up their mind of buying heavy equipment, renting the equipment plays the key role. This role mainly includes putting extra-capacity on an as-needed basis. It is very common for particular projects to put demands on the resources which go beyond the routine operations. That’s why, the company which has multiple units of that equipment also thinks to ramp up their abilities with additional equipments to get the job done in an efficient manner. Equipment rental equip the company with some additional means to get their jobs done in a better way as compared to other general units.
    • Fair play: – The quality of resources is the biggest factor which makes the big companies stands out from the small ones. A big construction business can afford the high-end equipment models with the trendy whistles and bells. But, a smaller company is compelled to manage with the more sluggish equipment for a long time. Renting generates a fair play giving opportunity to the smaller companies to get the top-level equipment. This helps the smaller companies to complete their work within the deadline and that too in an absolute manner.
  • Renting before owing: – Before going to purchase equipment, you should use it by renting it. This renting of heavy machine will enable you and your employee to get familiar with it. It is very important because ultimately when you buy that machine you can easily handle it at that time.
  • Service: – The main advantage of renting over buying is the outstanding support and assistance servicegiven to the company. The equipment rental staffs know how to manage the equipment. They also provide you with the tutorial classes on how to handle the equipment safely and effectively. They can easily solve all the problems related with the equipment.

 

Nowadays, large rental companies offer web-based programmes that allow the customers to rent and call off the constructional equipment, track rental fleet inventory and invoices of the review. This financial management online tool gives an additional budgeting tool which enables the contractors to have better control on costs of rental machines.

If you decide to rent equipment, you should look for the long-term impact of buying the equipment on your company’s balance sheet and operations to determine whether the utilization price is enough to justify the ownership. If the utilization price and ownership costs are not considerably less expensive, then the best thing for you is to rent the heavy equipment.

But don’t forget to read all the terms and conditions of the renting company before signing in any contract paper.

How to reduce risk by renting heavy equipment?

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Owners of construction industries are aware of the impact of economic decline on their businesses. Many of them have evolved a new appraisal for gripping money in their hands. They have started to explore strategies of risk management with a fresh vigour. In this competitive world, it is very important to rent equipment as one of the important strategy of risk management. It has both money and risk management advantages.

The construction industries have intensely fixed ownership culture regarding heavy constructional equipment. However, there are some advantages of leasing the machines which is almost same to all spheres of construction industry, irrespective of the type of equipment.

Renting mitigates asset risks

Renting minimises asset risks such as high maintenance cost. Bulldozing equipment requires maintenance. As the time passes, it faces much wear and tear. This increases the maintenance cost and repairing time of the equipment. This increased time and cost results in delaying of the project fulfilment. This delaying is a very big problem for the industries who are trying to maximize their crew. Renting assures that equipment stays first hand. Therefore, the money and time spent on its maintenance can be minimised significantly.

Apart from the maintenance of the equipment, businesses which buy the equipment straight away are responsible enough for ensuring that the purchasing is in compliance with appropriate regulations. The regular upgrading of the new equipment helps to keep up with the latest regulations.

Reselling of the construction machines is another important factor that constantly bothers the owners when they own such a machine. Sometimes, the owner should consider selling the older machine and decide what to do with it can be intimidating. There are very few companies who have right price to sell it in the market. Renting permits business owners to turn the machine in at the edge of the lease-period and move-on smoothly.

Use of Equipment management

As most of the entrepreneurs know that the monthly cost of renting the heavy equipment is really very expensive. If you want to go for purchasing new equipment for a particular project which will lasts for 2-3 years and which you are not going to use after that initial period, then it is not worth buying it. In fact, renting allows an owner to match the particular equipment’s usage with the deadline of the project. After that only, he should add that expense into its tender.

Your construction business relies on a variety of equipment to operate. Renting heavy equipment is a smart choice because the entire lease payment can be claimed as a tax deduction. If you want to rent the machine from an online company, then you only have to fill an online application form and submit it. After that they will give you a call for the further processing of your request. Or, you can directly give them a call so that you can visit the company physically. So, make your business bigger by renting heavy equipment.

 

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Things One Must Consider Before Renting Their Heavy Equipment

As the construction companies are increasing rapidly, the demand of heavy equipment is also rising high. Conduct a construction site and perform several types of works you need to take help from heavy equipment. It helps to accomplish the works faster and smoother. However, the cost of such machines is too high for common people; therefore, sometimes they need to take help from the renting services. People can rent different heavy equipment to complete their job. Whether you want to start a new small project that needs few machines or you are going to organize a big project with hundreds of workers renting heavy equipment can be really helpful.

But, before you are getting ready to take renting services, there are a number of things that you should consider. Whether you want to rent a crane or excavator, you need to know the proper ways of handling the machines. There are always some risks that can harm your work as well as the machine. Thereby, it is advisable to follow the proper guidelines before applying for the renting services. In this article, you will find out some basic points that help you to hire or rent heavy machineries. Take a look –

  • One of the most important things that you need to check before renting equipment is whether the owner of the machine follow the essential health and safety guidelines or not.  As you are going to rent this machine for your work, thereby, it is highly essential to check whether it is in the right condition or not. Heavy equipment is very useful in construction sectors. Thereby, you need to follow the safety and standard regulations. You should give main priority to the quality of the machine and not over price. If there is any problem in the equipment then you should check it first because it can cause many problems later.

 

  • You also need to check the liability insurance and take care of it. If there is any problem with the machine then you will be responsible for it. So, if you have any insurance then you at least can cover the damages. Otherwise it will be difficult for you to maintain the machine because it will take huge money. When you are going to rent a machine you should get insurance first.

 

 

  • Each machine comes with different parts that help the workers to handle different types of works. Thereby, when you are going to rent an excavator then you should know how to operate it. There are many specialized workers who are well trained and can help you in your works. In this way you will be able to know the right way of working with a machine. You should also try to get good information on the company before taking rent from them.

These are the few things that you need to consider before renting heavy equipment. This will definitely help you in many ways.