Just curious what you charge if you do?

I just picked up a 28' GN and had someone ask to rent it to do hay with (round bales) I don't do any of that so I don't really know much about it, but if I can help someone out and make a few bux here and there with it i'm game, but have no idea what I would rent it out for. I know 1 person rents theirs out for $50 a day for it but I don't know how big their trailer is etc. etc.

just seeing what peoples opinions of it are?

 

Are we talking about doing trailer rentals illegally on the side for cash or as a legit business.

 

how would that be illegal? but either way. that one

 

To do it legally you pay taxes on any cash, good or services received in exchange for any service you provide. You would also need a contract for service that would release you from any liability and make the renter responsible for any damage to your trailer.

Illegally you just charge them a set amount of money, pocket it like it never happened and hope for the best. Lot's of guy's out there doing this and just taking their chances.


I did this as part of my business for some years.
DBA: Equinolodge Horse Trailer Rentals and Sales.

Started off as a boarding stable but had so many people wanting to borrow my trailers that I finally gave in and made it part of the business.

 

Sorry I know you were just lookin for a simple answer here. So to that I will say that a fair price around my neck of the woods for that trailer would be $75 per day. But in good conscience I have to add the warnings cause we live in a sue happy world where everybody wants to get rich quick.

I just hate sendin somebody down this road without the warnings though because it could very well cost you everything you own and more. You rent it to a guy haulin hay and a bale falls off the trailer and causes an accident. If that renter is not insured or under insured guess who the lawyers are gonna come lookin for next.

This renter unhooks from your trailer and it rolls over him or he jumps off the deck and breaks a leg, guess who his lawyers are gonna come lookin for.

If you are loaning your trailer out in most cases your home owners insurance will cover you on these things. As soon as the first person mentions that this was a business transaction your insurance becomes null and void because you don't have commercial insurance.

 

I would most likely pay taxes on it since anything like that I would do I run through my business account that I have even tho I don't run one, mainly to keep track of things.

also there would be some form of agreement, have to protect that investment somehow right?

looking into insurance for it also but all I can really find is business insurance for loads.. gonna call later and see whats out there.

 

The insurance your looking for is called Rental Company Insurance. They cover most anything you rent out under one balloon coverage policy.

As far as a contract I'd offer you mine but it's based around a live load coverage for animals. I was the first business in the country to legally rent livestock and horse trailers. Took over a year going back and forth between the lawyer and the insurance underwriters guild to create the rental contract. In your case just go out and get a copy of a trailer rental form from U-haul or Ryder and change the names and you should be good.

If you already have a business to do this under also make sure you get a credit card and few hundred dollars worth of deposit for damage. Your gonna find a lot of renters to be clueless when it comes to trailer use and damage is common.

I'm just glad to hear that your lookin to do it right.

 

I like to do things the right way when I have the means to, unfortunately that doesn't always happen.

The way i'm looking at it is this may just be a one time deal, may or may not happen but I want to have something in place in case the need to CYA comes up. but I do know for a fact I'm not gonna be the only one using it since all but a few people I know have much for trailers if one at all so I see it getting borrowed a lot no charge, help fix if ya break it type deals.

so the worried part is if some moron drops a car off it or something... not so much hauling hay from a field.

 

You can get around some of these problems and still do what you want. I'll PM ya details later today, I'm on my way out right now.

 

bud make sure the people using the trailer are not clueless
and if your gonna rent it out ya better make sure you have an load of insurance

check this thread out and guess who is getting the big bill
https://www.dieselbombers.com/web-si...ers-busta.html