Equipment provision
PreferRent provides equipment to rental companies for long-term rentals (from three month and above). Provided equipment stays with rental company during agreed term and it operates with it as with own.
Equipment is provided either on splitrent on rerent base. Splitrent means that equipment owner and rental company split rental revenue in fixed ratio, most common is 70/30 with 70% for equipment owner. Rerent means that equipment owner receives fixed price per term and rental company adds markup.
For Rental Companies*
By using equipment provision functionality you will benefit from following:
- Source deficit machinery for long-term rentals from equipment owners to secure deals and serve your customers,
- Increase return from own equipment fleet,
- Generate extra rental revenue without investing into own rental fleet,
- Decrease your financing costs.
For Equipment Owners*
By using equipment provision functionality you will benefit from following:
- Share your idle equipment with rental companies on several markets and generate extra income.
For investors*
By using equipment provision functionality you will benefit from following:
- Stable return on investments as equipment is offered on multiple markets,
- Equipment rotation is handled by PreferRent based on equipment payback and utilization rate. Equipment moves around to reach highest possible return, without keeping it locked within one local market,
- Equipment repair and maintenance coordinated by PreferRent under better than average market conditions,
- Equipment is insured and PreferRent handles insurance cases by dealing with rental and insurance companies,
- PreferRent provides centralized purchasing and selling options under better than average market conditions.
More equipment you list for provision, more equipment requests you will receive from rental companies.
*Rental Company – a company with rental activities as core business.
*Equipment Owner – a company that owns equipment, but its rental activities are secondary.
*Investor – an entity that owns equipment but does not want to conduct rental activities.
If you have any questions about Equipment Sharing, please contact us at sharing.lv@preferrent.com or +371 29 288 282