How Much Should I Charge?
So you’ve downloaded the CLINK app and you’ve made the excellent choice to rent out your equipment, but how do you decide how much to charge? Well we’re here for you! We have made the uploading process very simple, and a big part of that is suggested pricing.
We did all the leg work and found the average pricing from the national rental companies. We then cut 20% and 50% off of their pricing to give you a suggested range. Ultimately, you get to decide what number to use, but keep in mind our suggested pricing will look enticing to potential renters, making CLINK their first choice for future rentals.
Where to find Suggested Pricing
In the app, while you are uploading your equipment. As you are creating your listing, it is important to fill in these 2 required fields for the suggested price to be accurate.
Category – Aerial Platforms, Trailers, Air Tools, etc.
Item Listing – 32′ Extension Ladder, Hammer Drill, 14′ Dump Trailer, etc.
If you don’t see the correct “Equipment Category” or specific item name under “Item Listing”, please let us know what you have so we can adjust accordingly.
Delivery/Pick Up Charges
Renters have the option to select Delivery or Pick Up for your listing. You get to determine how much you want to charge as you create the listing, this is a set price and wont be determined on a case by case rental, so make sure you are clear in your description.
Hammer Drill: This can be easily carried in your vehicle, so a minimal charge that would cover your time/gas would be appropriate. Your item description could say “Free delivery within 5 miles, please select the delivery charge if you are further away”
Telehandler: This item typically needs a flat bed trailer and large truck to deliver, so determine the radius you wish to be available and find a flat rate you will charge. Most often the renters will need this item delivered and picked up, typically we see this at $300 each way.
What is the “Take Home” Amount
Please remember that CLINK will retain 15% of the rental, and there is a 3% transaction fee from Stripe. Example: Your $100 rate will actually pay out $82.
Charging for a Service
Currently, the CLINK app is not set up to charge for additional services. (i.e. Renting a dump trailer as a dumpster) So, if you are listing your Dump trailer as a dumpster, make it clear in your description. Your price should include the average dumping fee. Here is what that might look like.
14′ Dump Trailer (as a trailer): $110-$140 per day
14′ Dump Trailer (as a dumpster): $230-$260 per day
Know What You’ve Got
Again, you get to decide how much you charge. If a local rental shop or others in your area are cheaper, chances are you wont be the first choice. Obviously you want to make money from your rental, but consider what you would pay to rent the same item. Rental shops keep a tight maintenance schedule, have replacement equipment, and generally new items which is why they have high prices. If you plan to charge the same or more, your renter will expect the same commitment to customer service. CLINK is the platform for your to list your items, while we manage the payments and paperwork side of the transaction, the majority of customer service will come from the host and the excellent experience they provide.
Change Your Rates
You do have the ability to edit your listing(s). Maybe you’ve successfully completed a rental and didn’t make enough, or your listing isn’t getting the attention you’d like. You can open each listing in your “Inventory” and change your prices.