I think what was mentioned below, is plausible, one owns, the other rents, and of course, you can't for any reason, have what Ken describes below, that is a total deal breaker. I've observed this scenario, with a new JD round baler, 6620 combine, larger tractors, whereas my long time dairyman friend/farmer would rent out. Also his sileage body tandem Mack truck. I did see that baler come back with somewhat of a serious repair, but that could have happened on the owners watch, nothing malicious or negligent, might have been something up the pick up, but over the long run that has been a profitable piece from day one, I know because I was involved. I think it does amortize over time, these rentals were for the most part good, because most if not all was when it was idle, of course the weather can change things, opportunities, but when its not in use, and you have a rental opportunity, with someone who meets your standards, it was a good thing. These were not formal agreements, but the parties all knew each other for many years and they at times do work together, even when they may not see eye to eye, a piece of equipment is needed because theirs burned up or had a catastrophic failure. In this mans situation, sure he's been burned on a few deals aside from doing the rentals from things we have conversed about, who has not at one time or another and he's no slouch when it comes to numbers and money. The rentals definitely helped at the end of the year, like most of these guys, it adds a line item to all the other things they do in a years time, and its one that was in the black, you do have repairs and maintenance and can go the other direction, its the risk you agree to by virtue of what you do, so either stay safe, risk nothing, gain nothing or get involved very carefully. His truck made money, but you know how it goes, a tire, an expensive repair, goes into the red, most times not, so over time and volume it does carry the bad times.
Again, you cannot have people like Ken mentions, better if you or your trusted person can accompany said equipment or you observe, do the field maintenance to show your presence, or whatever it takes, if your partner does not care and is negligent, reckless and careless, that in itself would count me out.
There are some that will treat it as if it were their own, I'm one of those people with a demonstrated reputation for doing just that and more, thought its rare now to borrow anything, in years past I showed my appreciation by changing oil, a well done and complete lubrication job, cleaning and detailing a cab, washing, especially a dozer and the tracks, top off fuel, whatever it took, was always worth it and it builds trust in those who you deal with, including rental houses, I did the exact opposite to what most rental customers would do, the machine would leave my job and go to the next without having to go to the shop first unless it was due for major service work. That's the operative side of it, but very important, all these things can make money if done right, but can also go horribly wrong, all depends on how the people are who are involved. Likely preaching to the choir with the latter, but you know what I am getting at just the same.
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