Renting equipment for construction, repair, and other contractor services can be very convenient, but as part of the transaction, you will likely have to pay a security deposit. These deposits can be pricey, and you must make sure that you get yours back. When reviewing the rental contract, look for this information or these procedures regarding the deposit and ensuring its return.
Current Condition Forms
When you rent something, you should be given a form that you can fill out that describes the current condition of the equipment. This is similar to how you'd mark existing damage on a rental car form or fill out that move-in checklist upon moving into a new apartment. If you neglect to fill out the form, you could be charged for any damage on the equipment when you return it, even if you didn't cause the damage, because without that form, you have no proof the damage was already there. And this damage includes minor scratches and paint chips — it's not just really big damage (which shouldn't be on a piece of rental equipment anyway).
If the rental company refuses to give you a form or refuses to let you write up a list of existing damage, find another rental company. You want to get your deposit back in full, not decimated by deductions for damage.
Time to Return
Each rental company should state in writing how long it takes for the deposit to be returned. The company may need some time to inspect the returned equipment; damage isn't always visible at first glance. But the amount of time the company needs should not be excessive. State laws may dictate a maximum amount of time, which can be different in each state.
Forfeiture Conditions
You also need to know what actions on your part might cause you to forfeit the return of the deposit entirely. Some are blindingly obvious, like destroying the equipment through carelessness. But there may be other issues, like not following the required maintenance schedule or not returning the equipment by a certain time on the last day of the contract. You need to be sure you know what you're dealing with so you don't get caught unawares.
Good equipment rental companies can give you all of this information, along with the procedure for reporting existing damage, before you rent the equipment. They will work with you to ensure you get back as much of the deposit as possible.
