The American Rental Association (ARA) and ARA Insurance are updating the rental contracts guide Business Management: Contracts and Legal Guidelines. Currently in the final production stages, the guide is scheduled for release in early 2012…..
An Expanding Market: The already vast market for rented equipment is expected to grow dramatically over the next several years. The North American rental market is expected to reach $51.7 billion by 2016 (an increase of 50% over 2012).
As many rental operators have come to understand, sometimes painfully, a rental contract can be a tremendously valuable source of protection, but in most cases, only if the customer signs it.
When new technology, customer confusion, plus new pricing and fines all converge beginning this January, a cloud of litigation may fall upon the industry – don’t get caught in the storm.
The United States has suffered a recent spike of severe weather events. According to the National Oceanic and Atmospheric Administration (NOAA), the U.S. has experienced an average of 4.8 “billion dollar” weather events per year since 1980 (in 2012 adjusted dollars). A remarkable 25 of those events occurred between 2011 and 2012, nearly tripling the historic average.