How much to charge to rent out my BX24

[moored4]

I agree with others. DONT rent it out.

If he is that good of a neighbor/friend, set up a time/weekend convienent for the both of you, and give him a hand with his project. I personally wouldn't let anyone borrow/use my tracror outside of my presence.

Things happen and stuff breaks. If something happens to your $20k machine, are you going to blame him??

I agree with LD1. If he's your neighbor and helps you then help him out, it will pay bigger dividends later than what you might make on 3 days of rental, who knows when it will be 'your ox in the ditch'. Around here there is a bunch of us that meet for breakfast and talk "shop", all I know is that someone is always showing up to help the other (calf branding, putting rafters up, cutting fire wood for the older folks) no one ever ask they just know when to show up!:thumbsup:

 

[bikerdib]

The old saying: "neither a borrower nor a lender be"

I think that should apply to tools also. I've let friends borrow tools before. Good friends. They brought back broken tools to me. Lesson learned.

 

[Tom_H]

Commercial rental companies do enough volume to absorb damages; they likely have a high volume insurance policy as well. An individual takes on a much higher risk. Commercial rental companies also usually limit their equipment to commercial grade equipment. You might be able to rent a B26 at a local rental yard, but not a BX24, because it cannot take the abuse that the B26 can take. I would let a close friend borrow my tractor, but I would never simply rent out my BX.

 

[Travelover]

I worked in the rental industry for a few years. You basically have to charge enough rent so that you can cover the abuse on the equipment. You will never collect it from the renter after the fact. This may be a special case and a friend, but in general rental stuff gets abused badly though it is hard to prove and often ends up with hard feelings all around.

 

[radioman]

wow- pretty sticky huh? next door neighbor. nice BX. he has seat time on similar machines, but you may not be there 24/7 when he using it.

I am perfectly willing to help out as long I get paid doing the work for others with MY equipment. Letting others borrow my BX ? hmmm I don't even let my wife plow the snow.

If you do rent YOUR BX, are you perfectly willing to accept any damage/scratches that occur at your own cost? Don't ever expect him to repair or offer compensation to fix your BX to bring it back to original condition before renting it to him. Its just gonna cause rifts. Afterall you have to live next to him perhaps the rest of your life. You charge whatever you think is fair since he is your neighbor and you know him better then we do.

 

[keyman1808]

I agree with the others, If he helps you then find some time and help him. Thats how I work with my neighbor. He did some electrical work for me and I moved 20 tons of sand for him. I bought the parts and he supplied the fuel. Its a win win situation.

 

[TripleR]

One of the very reasons I moved where I don't have any neighbors. My closest in either direction is 1/4 mile and they both own tractors. If I asked to borrow or rent someone's equipment around here, they would just show up and do it themselves and I would do the same, but that doesn't help you.

As mentioned, very sticky situation and I don't really have any advice and can only wish you luck however you go.

 

[SixHoeBob]

Show up, do the project at no charge with neighbors help. Take whatever he offers for payment. Even a token payment eliminates who owes who, what favor. Take your tractor and go home. What would he charge you to rent his boat, motorcycle, or sports car?

Establish the precedent of who's tractor it is. If he does not show the correct monetary appreciation for your efforts, be a lot slower to show up next time.

Your tractor will last a long time. A community tractor always seems to get broke by the other guy.

Just like his boat, my machines all came with payment books.

 

[frankhinde]

I have a Yanmar FX28D (about 30 to 32HP). I paid a bout $9200 for it with a new FEL and got a 5ft wide tiller and brush hog almost nothing.

Generally I don't rent it out except for my close neighbour and one other guy who I trust knows what he is doing.

Basically I call the local rental company and ask them what their hourly rate is based on a weeks rental for a slightly smaller machine.

Lately that has been coming out to about $18 an hour so thats what I charge, plus fuel.

If they broke a shaft or something then it wouldn't cover it, now if the neighbour plugged the cooling intake while mowing the grass (as he almost did) and cooked the engine, well that is his his rebuild cost, but I know the guy and I know he would pay up also.

The other guy I don't know so well tried to give me $100 after the gearshift lever broke off in his hand..Totally not his fault as it was a fatigue failure..an hour with a welder and I have a much better design.. But the guy really wanted to give me money..After I refused, I knw he added time to his bill hoping I wouldn't notice.

Its easy to rent to people who stand up like that.

Frank

 

[fredhargis]

To the direct question, I would try to figure out what the rental companies get and ask a percentage of that number, 75% or whatever you deem fair. If it's an arm's length transaction (whatever that means) I'd try to get some agreement on potential damage as well. No comment on all other aspects.