Renting out my B3030

MadisonK · May 9, 2006

I just bought a brand new B3030 with ATI quick detach FEL and heavy duty pallet forks, with a woods backhoe with multi position thumb. The machine is a little beast. I love it.

I have done many of my short term projects in a just a few short weeks of ownership (still less than 30 hours on it). I have alot of long term projects that will come when I decide I have the time and money to do them. In the meantime I have the machine sitting around not working, seems a shame.

I would be willing to carry the extra insurance if the whole thing made financial sense. What is involved in starting a small rental business?

Doc_Bob · May 9, 2006

( I just bought a brand new B3030 with ATI quick detach FEL and heavy duty pallet forks, with a woods backhoe with multi position thumb. The machine is a little beast. I love it.

I have done many of my short term projects in a just a few short weeks of ownership (still less than 30 hours on it). I have alot of long term projects that will come when I decide I have the time and money to do them. In the meantime I have the machine sitting around not working, seems a shame.

I would be willing to carry the extra insurance if the whole thing made financial sense. What is involved in starting a small rental business? )

Good luck, sounds like a bad idea from a liability standpoint. Then, if the renter damages it, going to court? lawyer fees?
Ouch.
Bob

rback33 · May 9, 2006

I second that....

daTeacha · May 9, 2006

Aye!

You would need to check about getting some kind of license for sure in most places, worry about liability, safety training, damage done to the machine, damage done by the machine, etc. I think I'd be asking some governmental type or a lawyer about the legal snares waiting for you if you go that way.

Personally, I don't know that I'd want to rent any of my equipment. I even get touchy about people wanting to borrow it. Seems no one takes care of it like the owner.

Billy_S · May 9, 2006

I certainly don't treat rental equipment like it was my own. Don't rent it to me if you want it to work next time you want to use it. /forums/images/graemlins/smile.gif

How about hiring yourself out with it?

MadisonK · May 9, 2006

I rented a smaller harder to use one a few years back. The rental people gave me five minutes of directions and that was it. It cost around $275 a day 6 years ago. In this part of the country people own much smaller pieces of land and most people don't own machines like this. I know everyone has a few small projects they could use a small backhoe for though. I am going to call my insurance agent and see what the liability insurance and replacement would be for something like this.

JerryG · May 9, 2006

If you don't want it bent, scratched, broken and over all torn up, don't rent it out. Anything and everything that can be done to it will be done.

cart99 · May 9, 2006

don't

Nissan197 · May 9, 2006

Don't do it. Just like a rental vehicle. How many people drive those like they are the owners. Not very many. Most drive them hard and don't check any fluids. I could see people renting your tractor and doing things that are over the tractors limits. I would not take the chance of damaging the tractor.

755inNY · May 9, 2006

I would not take the chance of damaging the tractor. 

Damage to the tractor would be the least of his worries. That is a known maximum value. I would worry about the liability. Renter digs into a gas line or buried cable. Does major damage to his or anothers property. Personal injury. How much liability insurance is enough? $1 million. $2 million? It does not take much imagination to think up all kinds of ways a renter can get into serious trouble in a blink of an eye. And don't think that because the renter caused the damage or injury due to his own negligence or misuse that you won't be held liable. The lawyers will go after anyone with assets no matter how remotely connected to the incident. I seriously don't think the risk is worth the gain. And after all the repairs you make there may not be any gain at all.

Jeff