It is virtually impossible for contractors, utility companies, municipalities, and the State Department of Transportation (DOT) to own every type of lift available. The cost and storage space needed makes this prohibitive and impractical. Owning the lifts most commonly used for projects or maintenance makes sense. Renting the equipment that is only required periodically is standard practice in these industries.
Where to Rent
Selecting where to rent a lift makes a significant difference in the schedule, cost, and flexibility of the entire process. A large rental company will have the capacity to deliver equipment within twenty-four hours in most cases. That will avoid delays and keep the project on schedule. Having more equipment in the rental fleet is another advantage of a large company.
The size and variety of the fleet also ensure flexibility. Projects from the ground up will not require high Boom lift rental right away. Renting a shorter lift or a different type of lift is more practical in the beginning stages. Renters will prefer one brand over another, so the variety appeals to a broader range of customers.
This aspect of renting equipment is the most important one because it affects the bottom line of the customer. Rentals are offered daily, weekly, and monthly. Once a contract is signed for the desired increment, billing is dictated by that specific rate. If equipment is rented weekly, billing is by the week. It does not matter if that duration turns out to be only twelve days, the renter will be billed for two weeks.
This standard is acceptable as a cost of doing business. Renters estimate the time needed as accurately as possible and decide on an increment based on that estimate. In the case of a project being completed sooner than expected, the renter can make other use of the equipment for the remainder of the time in that increment.
An Innovative Approach to Pricing
One rental company in Florida, High Reach, introduced prorated pricing to the industry. This approach saves renters substantial amounts of money. A lift rented by the month is no longer needed after ten weeks. Instead of billing the renter for three full months, the renter is billed for two-and-a-half months. The first two weeks of the third month are prorated at 1/4th of the monthly rate, multiplied by the two weeks.
The same applies to weekly increments. After the first full week, any days past the following weeks are pro-rated at 1/7th the weekly rate. Depending on how often equipment is rented by any one company, that savings is monumental. Visit the website to learn more about this pricing approach.