You’ve made the decision to rent rather than buy a Forklift. Now what are some of the steps you should take before you make your final choice? Your accountant will advise you to create a budget and plan of action which, in the long run, will save you money, time and headaches.
The basic prerequisites for your plan are to determine your weight capacity and lift height. While an average forklift has a 5.000 lb. weight capacity, you may find that you need a more customized capacity. Likewise, make sure you match the product that will be handled to the design of the equipment, because you may require special fork attachments to handle your product. Regarding the height, remember to approach the design of your potential rental forklift with the ability to lift the weight to the appropriate height within the limitations of your facility.
Other important considerations are related to the environment and ground surfaces the forklift will be driven on, as they make a difference in determining the type of tires the forklift will need. Required turning radius and minimum aisle width are important physical considerations that will also impact your choice of rental equipment.
You should next calculate a rental budget. It is not inexpensive to rent a forklift, especially on a daily or weekly basis. Be prepared to spend at least $100 per day for a standard 5,000 lb forklift. In addition to rental rate, there are also operating costs such as fuel (LP or Diesel). Calculate the amount of time the forklift is required to complete the job. The per-day rate is less when you rent for longer periods of time. Ask about overtime charges, too. The costs for most forklift rentals are based on a regular 8-hour day/40-hour week/160-hour month.
Before you finalize the deal, be sure to inspect the forklift. It is your responsibility to examine the forklift for signs of damage before you rent it. And be sure to read the rental agreement. Ensure you agree with all aspects of the rental agreement and keep a copy for your own documentation purposes. Also, check your personal or your company’s insurance policy to verify coverage. The dealer insures the equipment, but you or your company must cover the operator, other workers and the facility itself in case of an injury or property damage when using the rented forklift.
The US Forklift Network provides innumerable resources to guide potential forklift renters to find the best available deals and most reliable dealerships in their search for quality rental forklifts in their region.
