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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 ...
In the UK Crane Rental industry in the UK, which is one of the most highly developed crane rental industries in the world, special regulations for health and safety and rental procedures are in place. These are maintained as the CPA regulations. [1] In Europe, European Rental Association is the trade body representing the equipment rental industry.
In general usage, rent refers to a payment made in exchange for temporary use of property, for example paying rent to stay in an apartment. In economics, rent is any payment to an owner or factor of production in excess of the costs needed to bring that factor into production. Effectively, it is payment made to a producer above and beyond what ...
Rental utilization is divided into a number of different calculations, and not all companies work precisely the same way. In general terms however there are two key calculations: the physical utilization on the asset, which is measured based on the number of available days for rental against the number of days actually rented.
An economic system, or economic order, [1] is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions , agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
Offered by banks and online lenders, the best equipment financing can help business owners buy equipment to start or grow a business or repair or upgrade old equipment to remain competitive.
Many rental items have hidden or embedded accessories or attachments; for example, rental cars are typically supplied with a full tank of fuel. Effectively the fuel tank is an embedded accessory. Some accessories may be consumables , for example dust masks and sanding belts may accompany a floor sander .
The term rent, in the narrow sense of economic rent, was coined by the British 19th-century economist David Ricardo, [4] but rent-seeking only became the subject of durable interest among economists and political scientists more than a century later after the publication of two influential papers on the topic by Gordon Tullock in 1967, [5] and ...