Renting equipment to repair your office building should be pretty straight forward, but there are a few questions you should ask before signing your rental contracts. Here are three important questions that shouldn't be overlooked.
Can the Equipment Be Used Overnight?
It's important to think about the needs of your employees when repairing your office building. They likely won't be able to concentrate well when equipment is tearing the building apart in preparation for repairs. And less concentration can quickly result in lower production levels overall. So, you may want to work on your building outside of regular business hours when your office workers aren't in the building.
But not all equipment rental companies allow their renters to use their equipment during nighttime hours due to liability issues. So, you'll have to inquire about usage stipulations to ensure that you'll be able to use the equipment you rent when you intend to. It would be inconvenient to have to completely change your repair schedule or risk violating your rental contract.
Can Insurance Coverage Be Purchased?
It is also important to find out whether insurance coverage can be purchased for each piece of equipment that you plan to rent. If you're lucky, basic insurance coverage will come with the equipment you rent. But to fully protect your business, it's a good idea to purchase liability coverage as well if it's available.
Without insurance coverage in place, you'll be financially responsible for any damage that might happen to the equipment while it's in your care. And if the equipment gets stolen, you could be out literally thousands of dollars and might as well have purchase the equipment in the first place. But with the insurance in place, you'll only pay a deductible if something were to happen to the equipment while in your care.
What Exactly Are the Deposit Terms?
You will likely be required to make a deposit for each piece of equipment you'll be renting, but don't just assume that you'll get your entire deposit back when you return the equipment back to the rental company in good condition. There may be conditions that apply to your deposits, and you may not get all of your deposit monies back no matter what you do.
For example, a small portion of your deposits may be withheld for maintenance purposes, or fuel expenses might come out of the deposits whether you fill the tanks up before returning the rental equipment or not. So, take the time to find out exactly what the deposit terms are before renting your equipment so you aren't faced with any unwanted surprises during the rental process.
For additional information, reach out to companies like Wirtz Rentals CO.