Equipment lease rates?

John Chiara

John Chiara

Senior
Jan 11, 2011
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Troy, NY
If I have a piece of gear (console)I would rent out for $125/day, how do I calculate weekly, monthly, yearly rates on that same piece?
Do I include repairs with that? Any other considerations?
 
Re: Equipment lease rates?

John Chiara said:
If I have a piece of gear (console)I would rent out for $125/day, how do I calculate weekly, monthly, yearly rates on that same piece?
Do I include repairs with that? Any other considerations?
Click to expand...

This topic had some traction on PSW a few months back. IIRC there was daily rate, with subsequent days at 50%; daily with a "three day week" (7 days for 3x daily rate); beyond that it was some percentage of cost, overhead, insurance, etc. on a weekly or monthly basis.

As for including repairs, it depends on the gear & how it's used. When we did long-term rentals to clubs, maintenance was not included on non-electronic items. If an amp quit or mixer had problems we'd swap out the unit with something from our rental inventory, repair the bad item and then return it to service. Spills were not covered; if a mixer took a beer hit, the repair costs were born by the renter.
 
Re: Equipment lease rates?

A good rule of thumb used by many rental outfits is that a week costs the equivalent of four days, and a month the equivalent of three weeks.

So a piece of gear that costs $100 per day, will cost $400 per week, and $1200 per month.

Mick Berg.
 
Re: Equipment lease rates?

In my area the discounts are as follows:
1 Days = 1 x Day Rate
2 Days = 1.5 x Day Rate
3 Days = 1.75 x Day Rate
1 Week = 2 x Day Rate
1 Month = 5 x Day Rate
No Yearly discount.

This is fairly standard here across 5 or so independent regional size providers and the smaller operations as well.
 
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