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Updated NECA Tool and Equipment Rental Schedule Keeps Costs in Perspective for Electrical Contractors

Jan 18, 2013

The tools and equipment used by electrical contractors represent a significant investment for a company, and NECA’s Tool and Equipment Rental Schedule is the highly-regarded industry standard used to estimate those costs. The newest edition of the Tool and Equipment Rental Schedule, 2013-2014 for inside and line electrical contractors is now available from the National Electrical Contractors Association. 

The Tool and Equipment Rental Schedule contains average rental rates that can be useful for internal estimating and cost accounting or quoting prices to customers. The updated rental rates in this schedule are based on average initial purchase price, ownership expenses, and use periods. Actual experience records and schedules of electrical contractors, as well as the schedules and practices of equipment rental dealers, were reviewed to make the 2013-2014 edition as timely as possible.

NECA partnered with EQUIPMENTWATCH to produce the latest edition of the Tool and Equipment Rental Schedule. “EQUIPMENTWATCH brought a lot of industry knowledge to this edition of the publication,” said Greg Mankevich, NECA executive director, Management Education Institute, the team responsible for producing many of NECA’s technical guides for the electrical construction industry. “EQUIPMENTWATCH has information about market values, specifications, ownership and operating costs for construction equipment, all of which have shifted during recent economic conditions.”

Mankevich added that many factors were considered when updating the rental schedule. “For smaller equipment and tools, changes in the list prices were most significant, while for larger equipment, comparisons with third-party rental rates and first-principal analysis had greater influence on the rental rates.”

In addition, Rental Schedule editors made a serious effort to delete outdated equipment and include newer items that had just recently entered the marketplace. The 2013-2014 version also contains an updated and more exhaustive list of rates for instruments and testing equipment.

As with any other investment, a contractor must also seek a return on the investment made in tools and equipment. NECA recommends that any cost of tools and equipment be factored into the estimate as direct job expenses and not as a part of general overhead or operating expenses.

ORDERING INFORMATION: The Tool and Equipment Rental Schedule, 2013-2014 for Inside and Outside Electrical Contractors is available for $35 for NECA members and $80 for non-members. The publication is available as a printed publication, downloadable PDF or CD; the price is the same for all formats. Quantity discounts are available. Contact the NECA Order Desk at (301) 215-4504 tel, (301) 215-4500 fax, email orderdesk@necanet.org, or go to www.necanet.org/store to order the Tool and Equipment Rental Schedule, 2013-2014.

About NECA: NECA is the voice of the $130 billion electrical construction industry that brings power, light, and communication technology to buildings and communities across the U.S. NECA contractors help customers achieve their goals for energy conservation, efficiency and renewable power. NECA’s national office and 119 local chapters advance the industry through advocacy, education, research and standards development. For more information, visit www.necanet.org.