Equipment Rental Service
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vince123123
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how would it be better?
fooey said:
Hi,
I know that there have been a lot of discussions generated about SzeKiat's rental and the deposits charged. Just over the weekend, I had a need for a 70-200 lens to cover an event and I am not just about to rush out to buy a lens just for that. I happen to chance SzeKiat's thread on rental and decided to contact him. In the end, I ended up renting the Canon 70-200 f2.8 along with the 550Ex flash to try all for $50. SzeKiat was quite an accomodating chap, he delivered the stuff to my place and thrown in the batteries for the flash as well as well as the manual for it.
In short, I had need for a lens and he had one to loan. We did a transaction - no hassles, no trouble. Instead of putting cash for the deposit, I put in some of my other camera equipment in return. I would rent from him, if I have the need again.
I know that there have been a lot of discussions generated about SzeKiat's rental and the deposits charged. Just over the weekend, I had a need for a 70-200 lens to cover an event and I am not just about to rush out to buy a lens just for that. I happen to chance SzeKiat's thread on rental and decided to contact him. In the end, I ended up renting the Canon 70-200 f2.8 along with the 550Ex flash to try all for $50. SzeKiat was quite an accomodating chap, he delivered the stuff to my place and thrown in the batteries for the flash as well as well as the manual for it.
In short, I had need for a lens and he had one to loan. We did a transaction - no hassles, no trouble. Instead of putting cash for the deposit, I put in some of my other camera equipment in return. I would rent from him, if I have the need again.
vince123123 said:
There is a possiblity it is unenforceable, depending on the presiding judge to deem it as illegal money lending or not .... take for example, if you borrow some money from a "friend" that charges you 20% interest per week with roll over charges, effectively he is loaning you the money as a loanshark. The presiding jduge can deem this contract void and rule a judgement for the accuser and had the accuser pay back only the principal sum and / or at a interest rate that is acceptable. However, the accuser will most probably be paying for the legal charges, which is not cheap :bsmilie:
Can't speak about Singapore. Ask Erwin. But so far what the others are saying makes absolute sense.
As to your damage issue, you need to find an insurance firm and work something out with them. Either the insurance is paid for by yourself, or by the clients over and above the rental rate.
Charging for cosmetic damage is going to be a long and slippery road I'd caution against going down. You're going to get into arguments with before and after, whether the damage was already evident, etc. I'm afraid you have to accept normal wear and tear damage as a running cost of the business.
As to leaving the value of the item as deposit, this is an accepted practice in rental outlets around the world. It's not so much for your intentionally running away with the lens, but also if you accidentally damange/lose the lens, and for whatever reason insurance doesn't pay out or you don't have insurance, what then? The person who owns the lens must have assurance that you can actually afford to make good the loss. Otherwise he may be stuck with just what's in your bank account, which may be anything from 10 million to a few thousand in overdraft.
As to your damage issue, you need to find an insurance firm and work something out with them. Either the insurance is paid for by yourself, or by the clients over and above the rental rate.
Charging for cosmetic damage is going to be a long and slippery road I'd caution against going down. You're going to get into arguments with before and after, whether the damage was already evident, etc. I'm afraid you have to accept normal wear and tear damage as a running cost of the business.
As to leaving the value of the item as deposit, this is an accepted practice in rental outlets around the world. It's not so much for your intentionally running away with the lens, but also if you accidentally damange/lose the lens, and for whatever reason insurance doesn't pay out or you don't have insurance, what then? The person who owns the lens must have assurance that you can actually afford to make good the loss. Otherwise he may be stuck with just what's in your bank account, which may be anything from 10 million to a few thousand in overdraft.
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vince123123
Guest
Well i did say that high interest rate "PER SE" is not unenforceable. One off loans is not likely to be deemed to be loansharking either. anyway the facts are insufficient 
anyway im talking abt interest rates and not illegal money lending 
anyway im talking abt interest rates and not illegal money lending blurblock said:There is a possiblity it is unenforceable, depending on the presiding judge to deem it as illegal money lending or not .... take for example, if you borrow some money from a "friend" that charges you 20% interest per week with roll over charges, effectively he is loaning you the money as a loanshark. The presiding jduge can deem this contract void and rule a judgement for the accuser and had the accuser pay back only the principal sum and / or at a interest rate that is acceptable. However, the accuser will most probably be paying for the legal charges, which is not cheap :bsmilie:
wilddeepocean
New Member
Aiyo... looks to me more like legal discussion rather than equipment rental
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