Equipment Rental Knowledge Base
Tips for starting a Sound Equipment Rental Company? We are currently a LLP and are interested in expanding our business to a sound equipment rental company. Does anyone have any words of wisdom, any forms that can be used, any laws to be aware of, that they could be willing to share? It is obvious that a contracted that covers ever aspect of damage, accident, equipment loss that will be drafted up. We are looking to start this business very small and focusing on weddings, company meets, parties that are looking for a sound system to simply us for music and/or speaking. Any feedback would be great! Thank you!
Start up money for heavy equipment rental company in Africa? Anybody know how I can raise 150,000 to buy a heavy equipment to start an equipmental rental in Africa.It has a potential of making at minimum 214,000 in 12 months. I live in pa, just registered an LLC. Tried a lot of banks buy keep getting 10,000- 15,000 loans ..I have a credit score of around 700 Its not getting anywhere and its ruining my credit score.Serious advisors pls
What kind of insurance would a equipment rental company carry and where would they get it? I've seen lots of companies begin to rent things like big inflatable "bounce houses" and other things that kids play in, or even other goods involving kids. These are my questions: - What kind of liability insurance would a company like that have to have in place? - Where would a company go to find that kind of policy? - Any ideas on cost for those kinds of policies? Any other information would be great. Thanks very much in advance!! ~CK
rental equipment problems! what would you do? i rented a man-lift from a company i told the guy what i needed it for he recommended this certain lift. they assured me that it worked!! got to the job site and it would not work, and on top of things it started leaking hydralic fluid all over concrete, and he wants it pressure washed, so i got to pay someone to do that now and im out of $1100 what would you do?
Journal Entry for Equipment Rental? How would I do a journal entry for the following? Rented equipment worth $9,000 for 30 months, and paid the first installment of $438. As you can see, if you pay 30 months at $438 the total A/P comes to $13,140 but the equipment is only worth $9,000. This is what I had at first: DR Equipment 9,000 CR Accounts Payable 12,702 DR Interest Payable 4,140 CR Cash 438 Then I realized that Interest Payable is a liability account and I don't think it should be debited in this transaction. Am I over thinking this? Should the equipment be listed at the full price that the rental would be of $13,140? Or should the A/P only be $9K less the $438 for now? Also, what about when I end up depriciating the equipment? I'm so confused... Thinking about it a little bit more, would it just be a DR to rental expense and a CR to Cash - pure and simple? unfortunately this is a correspondence course and there is nothing in the book or online homework lessons about rentals, this is completely out of left field. The question doesn't say anything about lease to own or anything, so I think stating the value is $9K is a way to throw us off. I will stick to the expense/cash accounts. Thank you both!
Equipment rental company did not hold up their end of contract. What should we do? My sister's wedding was last night and the rental company that she paid to rent, deliver, and set up chairs, tables, linens, sound system, food serving chafers, and lighting did not do what they were paid to do. It is a long and drawn out drama, but basically we did not receive everything, we paid EXTRA to have everything set up, which did not happen. We tried to piece things together as best as possible but we never got the sound system working (and had buy a CD player for the dances) and we never used much of the linens because they were wrinkled and dirty. All day yesterday we tried to reach the owner of the business but he didn't return calls. We left messages with him urging him to call us back. My question is - does anyone have advice on what is the next step we should take? Thanks so much, I am usually a laid back person and I understand that things happen, but all the events (not all listed here) were over the top and this company needs to be held responsible. The bill was $1500 and of course was prepaid before the wedding. The company is an "established" company in the area and does lots of big dollar events. Not sure why they dropped the ball on ours....
Real Estate Investment - Question on Rental Equipment? Hi, A new property I purchased has a 15 yrs old hot water tank and 15 yrs old special equipment to convert oil to gas which is connected to the furnace. Both are rented by the same company - "Reliance". A couple questions on the topic: 1. Hot water tank: due to the water tank's age Reliance is willing to sell it to me for $150 only. Would you buy out the old hot water tank in order to avoid the monthly rent (but also not have service which is included in the rent)? 2. Oil to gas conversion: Reliance explained to me that due to the fact the oil to gas converter is "unique" equipment no longer being sold or serviced, they can not sell it to me. Does it make sense? they rent it for $30 a month! You should see what it looks like – old and dusty small piece of equipment connected to the old furnace. Would you continue renting it for $30 a month because "no one else can service this equipment" or would you try to do something about it in order to avoid paying $30 every month? THANKS.
Real Estate Investment - Rental Equipment - buy out or continue to rent?, As a new owner I have both options? Hi, A new property I purchased has a 13 yrs old hot water tank and 13 yrs old special equipment to convert oil to gas which is connected to the furnace. Both are rented by the same company - "Reliance". A couple questions on the topic: 1. Hot water tank: due to the water tank's age Reliance is willing to sell it to me for $150 only. Would you buy out the old hot water tank in order to avoid the monthly rent (but also not have service which is included in the rent)? 2. Oil to gas conversion: Reliance explained to me that due to the fact the oil to gas converter is "unique" equipment no longer being sold or serviced, they can NOT sell it to me. Does it make sense? they rent it for $30 a month! it looks like an old and dusty small piece of equipment connected to the old furnace. Would you continue renting it for $30 a month because "no one else can service this equipment" or would you try to do something about it in order to avoid paying $30 every month? THANKS.
Whats the most profitable rental business? Looking for some ideas to start a rental business. For example party rentals, heavy equipment leasing, hot tub rental, storage space rental. Just looking for some advice or any other ideas thankyou!
Hertz Equipment Rentals...? Let's say equipment A costs $20/day, and $60/week and and I go and pay for one day of rental, let's say I'm on the fifth day now, will I be charged the dif between a day and a week ($40), an additional week ($60), or an additional four days? ($80). thanks
Scuba equipment rental fees -- how much is too much? I signed up for an Advanced Open Water course this summer. Since I had completed a deep dive previously, I was told equipment rentals would be free. However, I have not completed my 4 dives in 2 days (it's been 3 dives and 3 days worth of equipment rentals). Is it reasonable for my instructor to charge me extra for the equipment rental? It was my "fault" for getting hiccups. But when you're scuba diving, isn't it up to the instructor there to make sure you don't push past your limits? I was not going to put myself in an unsafe situation where I couldn't breathe properly through my regular, so it's taken me a little longer. So does this mean that if I don't go at the instructor's pace (which is radically different from my own) then I have to pay more? It seems ridiculous when safety should be first!
Wedding sound equipment rental? I need to rent a mic and some speakers for my reception...where should I look? Who rents this type of equipment out? I'm in orlando fl
Camping Equipment rentals, ONT? Where can I rent camping equipment (tents, sleeping bags) for winter camping, probably in Algonquin Park. Is it not too late to start planning a camping trip for christmas holidays? I live in Toronto.
Real Estate Investment - Question on Rental Equipment? Hi, A new property I purchased has a 15 yrs old hot water tank and 15 yrs old special equipment to convert oil to gas which is connected to the furnace. Both are rented by the same company - "Reliance". A couple questions on the topic: 1. Hot water tank: due to the water tank's age Reliance is willing to sell it to me for $150 only. Would you buy out the old hot water tank in order to avoid the monthly rent (but also not have service which is included in the rent)? 2. Oil to gas conversion: Reliance explained to me that due to the fact the oil to gas converter is "unique" equipment no longer being sold or serviced, they can not sell it to me. Does it make sense? Does it not contradict free completion in Canada? they rent it for $30 a month. You should see what it looks like – an old and dusty small piece of equipment connected to the old furnace. Would you continue renting it for $30 a month because "no one else can service this equipment"? THANKS.
Unpaid rental fees for tools and equipment they still have the goods. Can I deduct any loss? 1. I bought items (my solo LLC business did actually) to lease to a another business 2. I went into debt to buy these 3. The business never paid me rent 4. The business still has the items; they never went officially out of business but they are not doing business 5. I had to pay for these items and they are all paid off in 2006 after paying on them for about 2 years 6. I use cash accounting 7. My business went out of business in 2006 8. I consider the debt uncollectibel and cannot recover the property which is in the former lessee business owner's possession. I do not know where they are. Can I file a business loss for my (late filing under an extension) business? I know this is cash method BUT I had these items essentially taken from me without payment and I'm out a bundle/
How do i get from Vieques to Fajardo late in the evening? I will be taking the Bioluminescent kayak tour, which starts at 6:30pm and it will last probably 1.5-2 hrs with all the equipment rental and then puting it back, etc. Most of the ferries i looked up online leave around 6pm the latest. I need to get back to the main island around 8pm on saturday. Which ferry line would be available that late?
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