Dealing with rental rates in the second half of 2014 is almost impossible to get accomplished and comfortable with. All companies that “rent” in some form or another have been through the recession and have had to deal with depressed rates and rejections to proposed and suggested rate increases. After you go through a period like that you become a little skittish about raising your rates.
In my opinion, it’s time to change the game and increase rates to where they belong.
Contractors now finally have some work - an actual backlog - and they need the equipment we have to rent. Better yet, the availability of rental equipment is tight, which means you can raise rates and not feel bad about it. So just do it and don’t blink if you get a funny look.
Now that we increased your rental revenues for the balance of 2014 and beyond, it’s time for you to take steps to improve your bottom line and cash flow.
Do the following on a regular basis: