If you ask the average person what he’s ever rented in his life, the most common answer will probably be a car.
“I ask people that all the time,” says Len Grimsley Jr., vice president of Len’s Ace Rental Place in Addison. “What I’ve found is that most people aren’t really aware of what’s available today through rental agencies that they wouldn’t have to buy.”
“We need to do a better job, industry-wise, letting people know what’s out there to rent,” said Scott Munsterman, vice president of WRC Rental, with five stores in the western suburbs.
It may be extra tables you’ll need for a summer party or a rototiller for your garden, but spokesmen for rental agencies say that, more than ever, they’re likely to have those items you won’t find in your basement or garage.
“Years ago, you borrowed a tool, or whatever, from your neighbor, but today, with people moving so much, people don’t even know their neighbors,” Munsterman said. “You can waste your money on something you’ll need only once a year, or you can rent it from someone like us.”
The rental industry features far more than do-it-yourself carpet shampooing and one-way trucks. Munsterman said one of the biggest areas for rental today involves throwing large parties at home.
“People have tired of renting large halls, and many people, at least in the suburbs, have built these large homes with what are called `great rooms’ and want to show them off,” he said. “It’s not uncommon to set up a rental for people with 20 to 30 guests.”
Munsterman argues that for a graduation party or a small rehearsal dinner, most people don’t have 25 matching pieces of china and silverware for all those guests.
“It’s really not that expensive if you look into it,” Munsterman said. “A china plate is just 35 cents, and it’s not cheap stuff with a rental company name printed on it. People can get tables, linens, china, silverware, plus a coffeemaker, all delivered and picked up for about $100 to $150.”
Grimsley says leading rental products include sewer augers, rug shampooing machines, hand tools and lawn and garden gear. One-day rental prices for these items range from $5 to $75.
Munsterman says post-hole diggers, air-nailing guns and high-pressure washers to clean decks or siding ($40 to $90 per day, depending on the size) are in big demand.
You should start the rental process by distinguishing between a pure rental company and those offering an option to buy.
If you find the rental agency has what you need, ask about security or reservation deposits. The graduation dinner party would obviously be planned weeks in advance, and you’ll need to pay a reservation deposit, worth 25 to 50 percent of the rental, to reserve the tables, plates and other things you’ll need.
The garden or power tool you want to use tomorrow will usually require a security deposit. Industry publications exist that many agencies will follow.
“We use something called the American Rental Association Guide, a publication showing suggested guidelines for deposits,” Grimsley said. “I may have a trencher that costs $3,000 and for a rental I’ll need $100 to $200 deposit. It’s a misconception that people have to put down half of what something is worth.”
“Deposits are usually 20 percent higher than the daily rate for an item,” says Laura Daum, office manager for Garfield Rental Mart. “But people just use their credit card, and we tear up the receipt later, so they’re not out any extra money.”
Rental prices can be based on hourly, daily or weekly rates. Think carefully about the job you want to do, and avoid rushing through it or taking on too much in too short a time in an effort to save money. Grimsley says weekly rates usually offer a better deal.
“If you’ve got a major lawn reconstruction job, you’ll have to allow for delays to go pick up the kids or maybe for bad weather,” he says. “You can also save money by maybe having two or three neighbors all aerating their lawns and sharing the cost of the rental.”
“Some places, including ours, offer painting equipment for a three-day rental price or construction equipment at a four-day rental price, and you don’t have to return it for a week,” Daum said.
Sharing a rental can save money, but Grimsley warns that safety can also be a concern.
“If you pick a good agency, they’ll want to offer you the best service and instruction about using the product,” he says. “We won’t let anyone leave here until we’re sure they know how to use a particular tool. But does the guy who picked it up explain or demonstrate it as well to his neighbor?”
The option to buy depends, of course, on how often you’ll need the item. Some businesses also sell everything they rent. If you’ve rented the item frequently and decide to finally buy it, you might get a break on the price.
“Some apartment owner that comes in every week for a sewer auger ought to just buy it because he’ll need it all the time,” Grimsley says. “If there’s a guy going up to his cabin in Wisconsin who needs a chain saw, we might look at the number of times he’s rented it and credit that amount off the price to buy it. When you do that, people feel you’re giving them a break and treating them fair.”
Rental gear that’s sold will usually fetch 25 to 50 percent of its original cost, depending on age and condition.
But Munsterman says the decision to buy depends on more than just how much you’ll use it.
“You can rent a chain saw for $50 a day, and then decide to buy one at Kmart for $200 and never rent it again,” he says. “But people forget about maintenance, including oiling and sharpening that saw. We make sure to do that every time we get the tool back in.”
Here are a few other tips about using rental equipment:
– Chances are, you’ll pick a rental agency close to home if you’re planning on picking up the item yourself. It may pay to shop around once the rental price reaches $50 or more.
– Expect to pay an extra fee–from $25 to $50–if you’ll need a delivery and setup. A large tent for your lawn party can easily run more than $200, but that still may be cheaper than renting a hall and catering a meal.
– Referrals are a good way to find a rental agency, especially if prices are similar.
– Expect better service from a dedicated agency compared to a store that handles items on the side. If the shampooer doesn’t work or the tool gets jammed, the latter probably doesn’t have the personnel to fix it.
