Advice on renting out gear

[Vital_Visuals_Inc]

I have a big S16mm film camera I'd like to sell, but I can't seem to get the price I need to get. So, I'm interested in getting some income off of it. Not much of a film market in this area (at least that I've been able to tap into), so I'm wondering about renting it out.

What do I need to have in place before I start renting it out? I've seen some rental companies that require proof of insurance- how reliable is that kind of thing? Should I ask for a deposit? How does it generally work in the rental biz?

Any feedback would be appreciated...
+Steve

 

[J_Barnes]

Re: Advice on renting out gear

Most single person operations will rent their camera with them as the operator, it becomes difficult to generate business if you've only got one package to rent, as people tend to go with companies that can offer them a reduced rate on a package of equipment.

I'd say that your only hope in renting it out would be to pursue other filmmakers in your circle and offer the camera to them at a rate lower then the local rental houses. Then again, you mention that there isn't much of a film market in your area, so I'm not sure exactly how you'd manage to generate any business where there isn't a market for your service.

As far as insurance, most companies I've rented from in the past will require a letter of insurance stating that your equipment is insured with full coverage and that you will be the sole beneficiary of that insurance.

Perhaps the best thing to do is to go to a rental company site and copy their rental insurance policy...that will give you a starting point to work from. Obviously you should consult a lawyer to draw up all your contracts and policies.

The other thing to consider is how long there will be a market for 16mm in general. With HD possibly becoming cheaper and DV cameras becoming better...there's little market left for 16mm and if you're in a tight local rental market already...chances are that you won't get any rental revenue from a 16mm camera package.

It might be best to ditch the camera for what you can get, not what you think you need to get. The prices on 16mm aren't going to be going up, the rentals aren't going to be going up, and demand is already dropping dramatically. It might be best to dump the camera now, rather then wait for your package to become essentially worthless.

 

[Barry_Green]

Re: Advice on renting out gear

I agree with what J_Barnes has said (as usual). Your primary rental opportunity will be with you as operator, as a package, and usually as a low-cost package.

It will be very difficult to compete for the type of business that goes to the established rental houses, because the rental houses can replace gear on a moment's notice if something goes wrong (and it frequently does, according to Murphy's Law). If you're out in the field and the camera breaks, the producer will be completely hosed, as you only have the one camera and no way to replace it. For reasons such as this, established producers will usually go to the bigger rental companies (and pay a higher rate, but that rate is justified as "insurance").

You can market yourself as a package, plus you will not require insurance (because you're there to babysit the equipment). But the type of clients that you'll get are likely to be the less-affluent.

Good luck with it...

 

[J_Barnes]

Re: Advice on renting out gear

It is a real shame that film is dying in Indie production circles.

Film hardware technology had progressed to a point where upgrades were essentially useless and an owner/operator could maintain a healthy package by spending money only on maintenance and the occasional extraneous rental.

With HD and all the other high-end video technologies being embraced and researched so rapidly, the upgrade cycle for hardware is going to eventually price the owner/operators out of the market entirely.

Of course, you never know…these digital backs might become a reality and revitalize the film market again. I’d much rather work with a digital magazine slapped on an SRII or 535 then a CineAlta.