Renting The Hvx200

thefilmaddict

thefilmaddict

Veteran
I NEED SOME RENTING ADVICE. A GUY JUST OUT OF FILM SCHOOL WANTS TO RENT MY GEAR. HIS DP IS TRUSTED BY A GUY I WORK WITH. MY MAIN 2 CONCERNS/QUESTIONS ARE:

1. COMING UP WITH A DAILY RENTAL RATE

2. MAKING SURE THAT HE HAS THE PROPER INSURANCE IN CASE SOMETHING GOES WRONG.

ANY ADVICE?

WHAT KIND OF INSURANCE DOES HE NEED (ANY SPECIFIC WORDING TO MAKE SURE I AM COVERED)?

SHOULD I HAVE OTHER CONCERNS?

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HERE'S A LIST OF MY GEAR AND ESTIMATED REPLACEMENT VALUE:

HVX200 CAMERA WITH POWER SUPPLY, CABLES, 1 CAMERA BATTERY AND CHARGER $5,195.00

1 8GB P2 CARD $699.95

1 8GB P2 CARD $699.95

1 4GB P2 CARD $499.00

1 P2 STORE $1,529.95

1 CAMERA BATTERY $149.95

1 CAMERA BATTERY $149.95

1 PETROL CAMERA BAG $199.95

1 MILLER TRIPOD (DS-20) $1,549.95

1 HD MARSHALL MONITOR (with battery conversion) $1,599.00

1 CINEVATE BREVIS 35MM LENS ADAPTER $1,073.20

1 BEBOB ENGINEERING CONTROLLER KIT (follow focus, iris and zoom controller FOR STOCK LENS) $649.95

1 (new) 50MM F1.4 NIKON LENS $299.95

1 (used) 28MM F2 VIVITAR (Nikon Mount) LENS $50.00

GRAND TOTAL: $14,345.75
 
look up and local rental company online and compare rates.
Cut the guy a deal if you like him.

As far as insurance goes, they should get a certificate of liabilty naming you as the loss payee.
 
You need your own insurance just as he needs his; but, no matter what - if you do not have insurance to cover your equipment incase he messes up, you are putting yourself at a big liability. Say he steps on a P2 card or someone knocks it off the table and it gets cracked; he doesn't feel like it's his fault completely so he shouldn't be the one who has to pay for it...

What do you do? You are screwed unless you've made sure he has insurance or at the very least, you've made sure your equipment is fully covered and that he has paid the price of the deductible with his rental price.

You should charge a Deductible rate upfront - prob $50.00 minimum for the length of your list; then charge a fair rate of 3% of the overall price that you piad for your equipment per day. 3 day week, 1 day weekend; just an example.
 
My equipment adds up to about $15,000.

If my math is correct, the percentages break down to:

3% = $450 a day
3.5% = $525 a day
4% = $600 a day
4.5% = $675 a day
5% = $750 a day
6% = $900 a day

Which price would you charge? I want to do better than a rental place, but I also want to make some money.

I will make sure he provides a certificate of liabilty naming me as the loss payee. If he gives me that, will I be covered without my own insurance?
 
as a side note if your equipment is not insured now and you call for an insurance quote on a policy that covers "rentals" prepared to be shocked.

I carry coverage on all my gear through my business insurance. rentals I handle strickly through liability - which is still risky because my policy wont cover the gear if im not there using it.
 
i would never think of renting out my personal camera. too many things could happen that you wouldnt know about that may not show up immediately but might shorten the life of the camera.
 
I rent my HVX and base my rates on the going rates of the rental houses in the DFW area and then reduce that a bit since I am just renting it at down times to help pay for it. I require an insurance certificate naming me as payee. You can get this from your insurance company and is a normal part of production liability insurance.

Ned Soltz
 
i rent almost the same list. my rates are cheep but it does add up. if the low budget guys don,t have the insurance with your name on it . i give them the option to go with the equipment as caretaker. if it is a good rental of a lot of stuff i don,t charge much. i only have insurance when i have the equipment. it is their responsibility to have rental coverage. if they don,t look after paper work as a pro they might not treat your camera any better. cover your ass.
 
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