Kenneth C Merrill
Well-known member
Hey all,
I've recently started consigning some of my equipment with a rental house in LA, and I have a question for people who have more experience in the rental business, especially with consignment deals.
According to the agreement, the rental house will insure the equipment as long as it is on their premises, but when the gear is out on a rental, the liability falls on the renter, of course. Where I'm starting to scratch my head is that the agreement stipulates that if the renter can't cover damages or loss of the equipment for some reason (fraudulent COI, etc.) then the balance of the loss will be split between the rental house and me equally.
Is that standard? On the one hand it kind of makes sense splitting the risk of loss, but on the other hand it's all up to the rental house to do their due diligence and make sure renters provide proper insurance for the gear--that's out of my power. So if the rental house makes a mistake, shouldn't they take the hit?
Would love to hear about other people's experiences.
I've recently started consigning some of my equipment with a rental house in LA, and I have a question for people who have more experience in the rental business, especially with consignment deals.
According to the agreement, the rental house will insure the equipment as long as it is on their premises, but when the gear is out on a rental, the liability falls on the renter, of course. Where I'm starting to scratch my head is that the agreement stipulates that if the renter can't cover damages or loss of the equipment for some reason (fraudulent COI, etc.) then the balance of the loss will be split between the rental house and me equally.
Is that standard? On the one hand it kind of makes sense splitting the risk of loss, but on the other hand it's all up to the rental house to do their due diligence and make sure renters provide proper insurance for the gear--that's out of my power. So if the rental house makes a mistake, shouldn't they take the hit?
Would love to hear about other people's experiences.