Heavy machinery is expensive to buy, operate, and maintain. Additionally, most heavy machinery companies offer rentals with a minimum 24-hour fee. The video "Heavy Machinery Rent Rate" shows the different heavy equipment rental service costs.
The cost of heavy equipment can vary depending on the type of machine involved in the rental and if it's new or used. The price also depends on the machine size and whether they rented through a company that maintains them.
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Operators that don't maintain these machines may charge less for them. Operators who do not maintain their machines do not make profits on their investment, so the rental rates of their competitors generally set the price of renting a piece of heavy machinery.
For companies that maintain their machinery, the cost could differ from other companies. The time you use a heavy equipment rental service can also affect the price, as renting a machine for an extended period is more expensive.
Most companies base the rate they rent their machinery on the unit cost per hour. The standard industry rule is that you should only rent a machine for no more than half its projected life expectancy if you expect to profit on your investment.
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