how much to charge?

[jac]

someone wants to rent the following equipment from me... but i don't know the market rate, so don't know how to charge. Any suggestions?

1) Panasonic NV-MX500EN (video camera ... retail price now is about $2,499)
2) Manfrotto tripod legs 055ProB (Cathay selling new one at $210)
3) Manfrotto tripod head 128RC (Cathay's price $120)

Condition of all items is tip-top.

Thanks

[blurblock]

Originally Posted by jac someone wants to rent the following equipment from me... but i don't know the market rate, so don't know how to charge. Any suggestions? 1) Panasonic NV-MX500EN (video camera ... retail price now is about $2,499) 2) Manfrotto tripod legs 055ProB (Cathay selling new one at $210) 3) Manfrotto tripod head 128RC (Cathay's price $120) Condition of all items is tip-top. Thanks

Try 5% of your equipment ....... with deposit being the cost price of your equipment. that should sound nice enough .

[blurblock]

Originally Posted by blurblock Try 5% of your equipment ....... with deposit being the cost price of your equipment. that should sound nice enough .

I mean 5% per day ...... u can make it such a way like 5% per day for the first 1 - 3 days and 2.5% for the rest of the days.

[jac]

thanks...

I have been lending my equipment out to many other pple for free... I didn't want to charge them for it, but they say must. ok lor, income for me.

[yowch]

Deviate a little off topic: Buy extended warranty from Panasonic for you MX500, you won't regret it. At high levels of usage (like myself) it'll probably fail here and there in about 15 months. Without the 2 additional year extended warranty, you rental won't cover your repairs.

For scale, my MX350 LCD hinge change costs $250. My MX8 CCD change cost $800.

[Ian]

Originally Posted by jac someone wants to rent the following equipment from me... but i don't know the market rate, so don't know how to charge. Any suggestions? 1) Panasonic NV-MX500EN (video camera ... retail price now is about $2,499) 2) Manfrotto tripod legs 055ProB (Cathay selling new one at $210) 3) Manfrotto tripod head 128RC (Cathay's price $120) Condition of all items is tip-top. Thanks

If you are going to hire your gear first check with your relevant business authorities to check if you need a license.

Next is to draw up a legally binding hire contract (pro forma) that has all your terms and conditions in it, this should include sections detailing who is responible for repair, replacement in the case of theft, damage that is unrepairable and cosmetic damage etc as well as deposit, refund of deposit, hire fees, time of return (before midday etc) and any statutory rights etc.

Finally fees, based on a value of $2900 SGD you'd be in the right sort of price range based on a hire fee of $100-$145 per day, $200 for a weekend and on a reducing rate after that. A deposit of at least 50% (or credit card slip etc) along with two valid forms of ID (drivers Lic/passport or similar with photo on it plus a credit card etc) is ideal and don't forget to photocopy them incase of theft of your equipment.

Ian