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NECA Releases Latest Tool & Equipment Rental Schedule

Nov 02, 2015


TECover15_web (2)Construction tools and equipment are an essential part of an electrical contractor’s business and can represent a significant investment, and NECA is here to help you determine the return you should get on that investment. 

The Tool and Equipment Rental Schedule is available as a hardcopy book and digital download at NECA’s Store, www.necastore.com.

NECA recommends that tool and equipment expenses are included in the estimate as direct job expenses, and this comprehensive guide is designed to assist in not only internal estimating but also cost accounting and price quotes to customers. Rental rates are provided based on average initial purchase price, ownership expenses and use periods.

These rates include an average allowance for depreciation, shop maintenance and repairs, storage, handling, insurance, taxes, interest, and a reasonable return on investment. The rates do not include the cost of operators, fuel or electricity. There is no allowance included for delivery and pick-up nor for field repairs other than routine maintenance such as lubricating or adjusting. 

The rates in this schedule are based upon average initial purchase prices, ownership expenses and use periods. The experience records and schedules of individual electrical contractors as well as the schedules and practices of equipment rental dealers were reviewed. The rates are necessarily averages and based on average costs and normal use.

These rates are based upon the contractor furnishing the complete tools and equipment for an entire job. They are not intended for casual rentals. Equipment rates are shown on a daily, weekly, and monthly basis.

“The NECA Tool & Equipment Rental Guide is provided as a tool similar to the very valuable NECA Manual of Labor Units,” said James Johannemann, President of All Bright Electric in New York. “The MLU is now often accepted as our industry standard as the authority documentation for supporting bids and change orders.  The NECA Tool Rental & Equipment Rental Guide is destined to perform the same purpose. It will be continually edited to provide more specific references to the tools of our trade.”

To learn more, go to www.necanet.org/Tool.

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.