THE COMPLETE GUIDE TO

RENTING FORKLIFTSRevised as of 03/21/16

Cleveland Columbus Toledo(216) 328-0970 (614) 896-2360 (419) 865-8025 www.TMHOH.com

The Complete Guide to Renting Forklifts Whether your business uses lift trucks around the clock or on rare occasion, there may well come a time when renting a forklift makes sense for you. The forklift rental process is just as crucial to understand for people that own dozens of lift trucks as it is for someone who just needs added capacity on a short-term basis—that is why this guide will teach you everything you need to know to feel confident the next time you consider renting a forklift.

Why Would You Rent?Purchasing a new lift truck can mean making a significant investment. While these investments typically pay for themselves in gained productivity, sometimes you just are not ready to buy. You may not have the funds immediately available, you may not know how long you will need the lift truck, or you may just want the flexibility to easily exchange equipment as you like. These are all valid concerns, and they are also great reasons to consider renting a lift truck instead.

Specifically, you may find it compelling to rent instead of buy when…

• You have a short-term need: Regardless of whether you own many lift trucks or zero, sometimes you need extra equipment to get a specific job done. Whether an emergency situations arise due to break downs or unexpected demand leaves you scrambling, rentals can allow access to extra muscle for a brief time.

• You face increased seasonal demands: Especially in the Spring and other periods of peak demand—when the tempo of operations picks up on construction sites, landscaping companies, ports/shipyards, home improvement shops, building material providers, greenhouses and other locations—having extra forklifts available can make the difference between keeping up with tight schedules and falling behind.

• You need more capacity long-term: Sometimes you know you are going to need access to more forklifts for an extended period of time, but you do not want the overhead of buying a new one outright for one reason or another. In this situation, a long-term rental or rent-to-own agreement may be right for you.

Renting also has the benefit of getting you the right equipment at the right time, every time. You do not have to worry about whether an existing lift truck or other load-bearing equipment will work in a given application; you can rent the perfect vehicle for the job at hand, avoiding guesswork. In this sense, a rental is not only a fiscally responsible thing to do, but a safe option that provides peace of mind.

Considerations Before You Rent Say you have decided a rental is right for you. How do you go about choosing one? Your best bet of finding an ideal solution is to plan ahead, gathering information about the application and your overall objectives. Start by addressing the following four questions:

1. What are our weight capacity requirements? Different forklifts can lift different amounts of weight, making capacity requirements the first thing to consider when narrowing down your options. A four-wheel electric forklift, for example, may be able to lift up to 12,000 lbs., whereas a three-wheel truck or narrow-aisle truck (typically used in

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warehouses) may trade a lot of that capacity for better maneuverability. Consider also non-weight aspects of the load. For example, are you lifting something of uniform or irregular size? Irregular shaped loads often mean the lift truck can safely carry less weight due to the physics of load center balance, so knowing details of materials being moved is important. Also take note of where loads will be sitting (on shelves, on the floor, on pallets, or otherwise) and how they are packaged.

2.Whatareourliftheightrequirements? This one is a bit more straightforward than weight capacity requirements. Different forklifts have the ability to reach different heights, so do not be the person to bring a lift truck back that cannot reach the load you need to move. Reach trucks, for instance, can reach racks as high as 30 ft., but a typical four-wheel forklift can safely raise a load well over 20 ft as well. Be sure to measure all applicable job heights before you start checking lift truck specs.

3. Where are we going to drive this truck? Whether you are going to be driving a lift truck only indoors on cement floors or need to be able to drive across asphalt, mud, and more will make a difference when it comes to the tires you will need. An outdoor application might call for heavily treaded pneumatic or resilient tires, for example, but an indoor application may only need smooth, cushion press-on tires.

4. How are we going to fuel the truck? An important part of choosing a rental lift truck is deciding whether you are going to want an internal combustion (IC) or an electric forklift. There are pros and cons of each to consider, especially when it comes to fueling/powering the truck. IC trucks, for example, are quick and easy to refuel with gasoline, diesel, liquid propane, or natural gas, but they can be loud and require on-site fuel storage. Electric forklifts, alternatively, have a lower operating cost-per-hour, but require special charging equipment.

Once you have a good handle on the application, think about your operational goals and other parameters that could affect your ultimate decision. For example, consider:

• What sort of budget you have: Renting may be far less expensive than buying a lift truck outright, but depending on what sort of truck you need and how long you are going to use it, costs can add up. Maintenance of the lift truck is sometimes covered by the company that owns it, so that will likely be factored into the price you pay, but you will still need to pay for operating costs like fueling or charging the truck.

• How long you need the truck: As mentioned previously, there are good reasons to make both short-term and long-term rentals. Knowing exactly how long you will need the truck will help you get the best rental rate and will help you anticipate costs like overtime charges. A word of warning, however: Inventory of lift trucks is naturally limited, especially during peak rental seasons, so plan ahead to ensure you get the right equipment when you need it.

• How you will get the truck to the job site: This seems simple, but it is often overlooked. You probably are not going to drive a forklift from dealership to job location, so you will need to determine whether you are shipping it or having it professionally delivered by the rental owners.

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Cleveland Columbus Toledo(216) 328-0970 (614) 896-2360 (419) 865-8025 www.TMHOH.com

You Are Ready to Rent. Now What?Once you have gathered all the information you can to help you make an informed rental decision, it is time to start seeking out the perfect lift truck in earnest. You may have a pretty good idea what sort of truck you want, but how should you decide from whom you are going to rent, and how do you go about it? Here are a few pointers.

1.Researchcompaniesandfindnotonlygoodproducts,butserviceyoutrust. There are a number of forklift manufacturers out there, so one place to start is by researching the different brands and figuring out what sort of equipment specifications look best to you. Beyond product performance, consider also dealership reputation, service offerings, parts/special attachment availability, business longevity, value-adds and seasonal promotions.

2.Expecttoshowproofofsubstantialliabilityinsuranceandtofillouta creditapplication. While the dealer will probably insure the equipment, lift trucks can cause a lot of damage if handled improperly. As a result, your company will likely need to cover the operator, adjacent workers, and the facility in case there are injuries or property damage. Credit applications may also need to be filled out if you are going to open a credit account with your supplier.

3. Read the rental agreement carefully. Scrutinizing the paperwork may not be fun, but it is always a good idea. The rental agreement will include details on all terms of the rental, including who is responsible for paying for what (e.g., maintenance, damage, overtime charges, etc.), how long you will have the truck and more. It is a crucial document, so make sure you retain a copy!

Renting a forklift is not rocket science, but it also is not something to jump into without some taking a moment to plan out a strategy first. If you could use the extra productivity, find yourself in a bind or simply are not quite ready to commit to a purchase, renting could be a great option. While this guide should help you prepare to take the plunge, you can always ask the experts for more information to maximize your chance of success in your next renting endeavor—we are here to help. Good luck!

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