We have a mini excavator and it's not being used much at all and we could use some extra money. I'm considering loaning it out for a price. Iquot;m curious if anyone has any experience in this. I'm guessing I'd need some sort of insurance in case it comes back broken. I'd need them to sign a contract. The excavator doesn't have a title, so how do I protect it from being stolen? Any thoughts or advice on this sort of business. What to think of before starting something like this.
I had a commercial carpet cleaner I was thinking about doing the same thing with and with all the same problems and thoughts your are mentioning. They are saying you ought to be able to rent it for about 5 % of the cost of the thing per day. So I should be able to rent my $800 cleaner for about $40 per day. My though was to not just rent it to anyone, just to people I know or who are from a solid referral. People who are doing contracting work might be really hard on the equipment, but a local home owner would really be able to use it and maybe not beat it up too much. If you were getting $40 or $50 per rental, that would not be too bad of money for equipment not being used. I would talk it up with people you know, and maybe even go with the machine when you rent it. You are there, they are using your machine for 2 hours, you advise and collect the money, they do the work. Might work? meljr
you will in all probability be waiting to function the workplace out of your place, however the storage of equipment and having people come on your place to %. it up, pay for the condominium, and so on. is maximum possibly going to require a zoning variance, when you consider that your place is in all probability zoned as residential, not commercial. For some thing like this, you're in all probability going to locate it very confusing to get that variance (i'd assume associates to merchandise).
