How to Determine Forklift Rental Rates and Factors That Affect Them

There are a lot of companies that provide forklift rental services in the industry today. This includes a wide range of forklifts from hand pallet trucks to battery forklifts. At the same time, these companies will rent on either a short term or long term basis. Short term rentals lasts for days or weeks. On the other hand, long-term rentals are designed for multiple months or years.

How Rental Rates are Determined 

A lot of companies base their rental rates on a 40 hour week, eight hour day or four week month based on their agreement with customers. At the same time, some companies subject their customers to a 150 percent surcharge for rented battery forklifts or these hand pallet trucks if they are used for more than one but less than two shifts. Additionally, some companies charge double the normal rate if their forklift is used for 16 hours or more in a 24-hour period. Extra charges may be implemented if the current rental forklift wear rates are significant due to machine or material applications. Customers must also remember that some of these rental rates do not include a sales tax.

MSSForklift Service and Repair Site

MSSForklift Service and Repair Site


Factors that Affect the Rental of Forklifts 

Aside from basing their forklift rental rates on the number of hours that their machinery is used, there are also a number of factors that can greatly affect how rental rates are determined (Also See A How-To For Buying and Selling Used Forklifts). One of these factors is the type of environment where the forklift will be operating. The hardier the environment is, the more chances a forklift will experience wear and tear. It also means that the company renting the equipment will have to pay more for repairs. Charges also depend on the rental agreement period as forklift parts that commonly break down such as the fork and the tires become the customer’s responsibility in a long-term rental. This is the reason why people must choose the equipment that is most suitable for their working environment before renting a forklift.

Another factor that can affect rental rates is the equipment’s purchase cost. With a higher purchase price, customers will be charged a larger rental fee. Additionally, the depreciation of a forklift during the rental period can also have a major say in the rental rate. This is due to the potential equipment value lost during this period. This is also included in the rental fee that the company charges.

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