If you and someone else in your neighborhood are both thinking about making some home improvements, it might seem smart to rent one piece of equipment from a heavy construction equipment rental company and to share it, then split the cost. Even though this might seem like a good way to save both of you a little bit of cash, it's generally not a smart idea. These are a few reasons why.
The Contract Might Not Allow It
First of all, you should know that the rental company will probably expect you to sign a contract regarding how you will use the equipment. In many of these contracts, there are specific clauses that state that you aren't supposed to transfer or share the rental with anyone else. If you are found to break the contract, you could be charged a fee or forbidden from renting equipment from the same company again in the future.
You Could Be Held Responsible for Damages
Not only do you have to pay for the rental, but you may have to put a deposit on it as well. Even though the deposit should be refunded as long as the equipment is returned in good condition, the hold may be fairly large (depending on the value of the equipment and how long you are planning on keeping it), which can cause problems when you're sharing. First of all, the two of you might have a tough time deciding who will put down the deposit, which may need to be held on a credit card.
Then, you have to worry about the deposit not being returned due to the equipment being damaged. Even though you might use the equipment properly, can you count on your neighbor to take good care of it and avoid damaging it in any way? If your neighbor is the one who is supposed to return the equipment back to the rental company, can you count on him or her to clean the equipment up, refuel it and otherwise take the steps outlined in the contract? If not, you could be held responsible for these issues, and you could have to pay for damage to the equipment or for fees for not refueling or otherwise returning it in ready-to-use condition.
As you can see, it's really not a good idea to share heavy construction equipment rentals with your neighbor. Instead, it's typically best to rent the equipment that you need by yourself.