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Over the last few years I have drifted into rentals without really thinking about any potential problems. I now have about 55 recons and about 10 new ISE’s. The business works well and is growing, but what happens if one of my machines or fill hoses leak through two or three flats? Can I get my customers to sign a disclaimer letter? Where can I get suitable insurance? I feel like I could be on the road to disaster here. Is there any one doing the same thing who could give me some advice.
Regards,
MikeRe: Washing machine rentals.
You must already have public liability insurance, I would suggest your current insurers would be a good place to start asking.
Jim.
Re: Washing machine rentals.
A few years ago when I did rentals, I would insist that the customers own house insureance should cover any accidents or disasters.
I made it a condition on the rental agreement that the customer signed.
Graham
Re: Washing machine rentals.
I am thinking of going down the rental market, any chance of starting a thread in general topics with regard to this and how you work it?
It’s something im thinking about due to the current state of the market and the public going down the catalogue routes etc.Re: Washing machine rentals.
LJDomestics wrote:I am thinking of going down the rental market, any chance of starting a thread in general topics with regard to this and how you work it?
This is an old thread but there are a few more recent ones on the subject if you ‘Search’….?:wink:
Re: Washing machine rentals.
I am convinced it is a good road to go down. Not sure about a credit lisence, why do I need one? I agree that it may be good to air the subject in the general trade forum, if any one wishes to transfer the topic please feel free.
Regards,
Mike.Re: Washer rentals, is now a good time?
I sell recons from a shop.Public liability does not cover the products if one is sold and there are problems.I have to have pubic liability and product liability.Public liability is cheap but product liability is much harder to get and is much more expensive because they are recons.
Re: Washer rentals, is now a good time?
Moved and altered thread title slightly, hope that OK. 🙂
Jim.
Re: Washing machine rentals.
megawatt wrote:I am convinced it is a good road to go down. Not sure about a credit lisence, why do I need one? I agree that it may be good to air the subject in the general trade forum, if any one wishes to transfer the topic please feel free.
Regards,
Mike.would a credit liscence not be needed incase you rented a machine then suddenly had a none payer? is this not to safeguard you for claims against? i dunno, new to me this also but what do you get them to sign as in terms etc not just the breakdowns that cause damage etc.
Re: Washer rentals, is now a good time?
Been thinking of renting as well lately, only thing i’m a bit worried is the rental agreement form, would anyone know where i could get a rental agreement form form? or have one that i could duplicate? and of cause any advice would be gratefully received.
David
Re: Washer rentals, is now a good time?
dpr1974 wrote:Been thinking of renting as well lately, only thing i’m a bit worried is the rental agreement form, would anyone know where i could get a rental agreement form form? or have one that i could duplicate?
Something like this….?
Terms and Conditions
1 Obligations of the Customer
These are:
( a) To keep the equipment safe throughout the period of hire since it remains the property of the Dealer at all times and not to part with possession of the equipment nor dispose of it in any manner.
( b) Not to tamper with repair or adjust the equipment or any of its components nor attempt to clean the tape heads of the equipment nor allow any person to do so (apart from the Dealer or its authorised agent) nor connect to the equipment any ancillary equipment other than through the sockets provided, for that purpose.
( c) To indemnify the Dealer against any loss or damage to the equipment caused in any manner (except as a result of fair wear and tear) and to indemnify the Dealer also against any loss or damage to the equipment caused by the use of cassettes or discs which have been spliced or mended or are otherwise of such poor quality as to damage the equipment.
( d) Not to allow the equipment to be seized by a landlord or any judgment creditor in satisfaction of any liability or debt and to indemnify the Dealer against any costs or expenses the Dealer may incur in preserving the equipment from seizure or in recovering it.
( e) To keep the equipment at the address as stated in the agreement and not remove it until at least fourteen days notice has been given to the Dealer and consent has been received.
( f) To allow the Dealer or its representative to inspect the equipment at all reasonable times for the purpose of adjustment and repair and if necessary to remove it from the customer’s premises.
( g) To insure the equipment against all risks for which the customer is liable to its full retail value as stated in the Schedule overleaf and if requested to produce evidence of insurance and payment of premiums to the Dealer.
( h) To make the payments stated in the Agreement in full on the due date and to pay interest at a rate equivalent to 4{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d} over ***** Bank plc base rate on all payments more than 7 days in arrears such interest to be payable both before and after judgement, all payments to be made at the Dealer’s premises or by Direct Debit. Payment by post is at the Customer’s risk.
k) To obtain any required licences for the use of the equipment.
2 Obligations of the Dealer
So long as the customer performs their obligations under the agreement the Dealer will throughout the period of hiring:
( a) Provide the customer with equipment of the description agreed to be hired and maintain it in good working order (subject to (b)).
( b) After notice has been received of any defect, repair it without extra charge or (at the discretion of the Dealer) replace it with equivalent equipment temporarily while repairs are being carried out provided that
( i) When the equipment includes a remote control it is the Customer’s responsibility at his / her own expense to fit replacement batteries and
( ii) the Dealer is not responsible for the replacement and repair of audio and video tapes or cassettes or discs and
( iii) the Dealer is not responsible for the cost of remedial work caused by or connected with the use of auxiliary equipment nor for the cost of modifications required to enable such auxiliary equipment to operate in conjunction with the equipment and
(iv) the Dealer is not responsible for the cleaning of filters on laundry and dishwashing products or the defrosting of refrigeration products
3 Ending of Hiring: by the Dealer
The Dealer may but is not obliged to put an end to the hiring after service on the Customer of any required statutory notice
( a) At once if the Customer commits or allows a breach of any of his / her obligations contained in Clause 1 or commits an act of bankruptcy or is more than seven days in arrears with any rental payment for the equipment or
( b) By one month’s notice in writing expiring at any date not earlier than the end of the minimum period of hire provided that nothing in this agreement shall prevent the Dealer from recovering any arrears of rental more than seven days overdue or other payment due from the customer by action without first terminating the agreement.
4 Ending of Hiring: by the Customer
The Customer can put an end to the hiring by giving:
( a) At least one month’s notice in writing expiring at the end of the minimum period or any subsequent date or alternatively
( b) Notice forthwith if at any time the Dealer shall for four consecutive weeks fail to comply with any of its obligations under clause 2 or
( c) A notice expiring at or after the end of eighteen months after the making of the Agreement: if the agreement provides for the making of payments to the Dealer at equal intervals the minimum period of notice is the length of one interval or three months whichever is the less. If the Agreement provides however for making payment to the Dealer at different intervals the minimum period of notice is the length of the shortest interval or three months whichever is the less.
5 Consequences of Ending the Hiring: Payments(a) If the Dealer ends the hiring under Clause 3(b) at a time when he has no ground to terminate it under Clause 3(a) or the Customer terminates the hiring under Clause 4(b) or 4(c) the Customer shall be entitled to a refund of any sums paid for rental in advance for the hiring period which exceeds the sums payable in respect of the period for which the goods have actually been hired.
(b) Save as provided for under Clause 5(a).
(i) The Dealer shall not be required at the ending of the hiring (by the Dealer or by the Customer) to refund to the Customer any rent or other sum paid in advance and
(ii) The ending of the hiring does not affect the rights of the Dealer to recover damages from the Customer for any prior breach of the agreement or to recover any sums accrued due from the Customer, and (if the Dealer terminates the hiring under Clause 3(a) it will entitle him to recover any balance payable in respect of the remainder of the minimum period of hire.
6 Consequences of Ending of Hiring: Return of Equipment
When the Hiring ends:
(a) The Customer shall immediately deliver up the equipment to the Dealer and in default the Dealer shall be entitled to repossess the equipment and to recover from the Customer any expenses incurred by the Dealer in repossessing the equipment.
(b) If the Customer fails to deliver up possession to the Dealer after being requested to do so, then the Customer shall become liable forthwith to pay to the Dealer damages at the same rate as the rental specified in the Agreement from the date on which the hiring ends to the date when the equipment is returned to the Dealer and the reasonable costs incurred by the Dealer in recovering the equipment, provided that this clause 6 is without prejudice to the Dealer’s rights under any other clause of this Agreement.
7 Customer’s rights to suspend payments to Dealer
(a) If the Dealer fails to repair or temporarily to replace defective equipment under Clause 2 for more than 7 consecutive days after he has had written notice that the equipment is defective the Customer’s obligation to pay rental shall be suspended as from the date of receipt of such notice until the necessary repair or temporary replacement has been carried out.
(b) No suspension of rental will be allowed to the Customer if defective equipment is repaired or replaced temporarily in accordance with Clause 2 within seven days after the required written notice has been given.
8 Dealer’s Exclusion of Liability
Apart from his obligations contained in Clause 2 and 7 inclusive of this Agreement and apart from those obligations imposed by statute which cannot be excluded (such statutory rights of the Customer being expressly preserved) the Dealer shall not be under any other liability to the Customer in respect of any injury, loss or damage of whatever kind and however caused whether direct, indirect or consequential arising out of the provision, use, installation, removal, replacement or repair of the equipment, and the Customer is therefore advised to take out insurance in respect of all such matters.9 Relaxation of Rights of Dealer
If the Dealer varies or relaxes any of the terms of the agreement in favour of the Customer the Dealer is nevertheless entitled later to enforce the terms of the Agreement strictly.
10 More than one Hirer
If two or more people are named as the Customer in this Agreement the liabilities of each shall be joint and several so that each person can be held fully liable for all the obligations set out in the Agreement.
11 Value Added Tax
If there is any variation in the rate of Value Added Tax during the period of this Agreement which affects the amount payable by way of rental payment the Dealer may adjust the payment set out in the Schedule appropriately in the light of such variation.
Re: Washer rentals, is now a good time?
Thanks, that’s great Martin,. All the ones i found on the web were crap (to be honest) and american, the americans do like to droll on. Cheers
David
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