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Equipment rental was first developed in Anglo-Saxon countries. It emerged in the UK after the First World War and has now become a multi-billion euro business providing a wide range of construction and industrial equipment for customers globally.The American Rental Association was founded as early as 1955, [1] and the first waves of consolidation took place in the 1970s in North America ...
Some construction equipment can cost as much as $150,000. Backhoes can cost $45,000 to $55,000 (this and other figures in 2010 U.S. dollars); skid steer loaders , $25,000 to $35,000; generators , $25,000 to $150,000 (for trailer mounts); forklifts , $12,000 to $50,000.
An early competitor to Saunders was Walter L. Jacobs, whose Chicago-based Rent-a-Car opened in 1918 with twelve Ford Model T's. [4] The company was bought in 1923 by John Hertz. In Britain, car rental started with Godfrey Davis, established in 1920, and bought by Europcar in 1981. [5]
Thrifty Car Rental was established in 1958. [2] [3] The company completed an initial public offering (IPO) of common stock in 1987. It would grow in size by purchasing Ohio-based Snappy Car Rental for US$40,000,000 (equivalent to $98,319,463 in 2023) in May 1989. [4] [5]
A rental agreement is often called a lease, especially when real estate is rented. Real estate rentals are initiated by a rental application which is used to build the terms of the lease. In addition to the basics of a rental (who, what, when, how much), a real estate rental may go into much more detail on these and other issues.
I-GO was a Chicago-based car sharing organization which is owned by Enterprise Holdings. It was established in 2002 by the Center for Neighborhood Technology as an independent 501(c)(3) not-for-profit organization working in the fields of urban livability and sustainability.
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