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Construction tools and equipment are an essential part of an electrical contractors business, and can represent a significant investment. In addition to the large initial investment and the provision for eventual replacement, expenditures must be made for maintenance and repair, storage and handling, insurance, taxes and interest. As with any other investment, a contractor must also seek a return on the investment he makes in tools and equipment.
The rates contained in this publication may be useful as a guide for either internal estimating and cost accounting or for quoting prices to customers. NECA has always recommended that the cost of tools and equipment be included in the estimate as direct job expenses and not as a part of general overhead or operating expenses. In accordance with the standard definition, tool and equipment expense is a part of the direct job expense.
The 2023-2024 Edition of the Tool and Equipment Rental Guide includes new equipment and updated list prices for all items have been added, along with a new set of definitions for rate selection. In addition to the PDF and hardcopy purchase options, NECA members can access our Tool and Equipment Rental Guide via an enhanced web portal. There you can refine your search to find what you need quickly. A list of all rates is also included. Regardless of how you view them, search results can be downloaded as either a .pdf or .csv file.
These rates include an average allowance for depreciation, shop maintenance and repairs, storage, handling, insurance, taxes, interest, fuel (diesel or gasoline) and certain operating expendables such as lubrications, filters, tires, etc.
The rates do not include the cost of operators, electricity, or non-diesel or gasoline fuel. 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 guide are based upon average initial purchase prices, ownership expenses and use periods. The experience records and schedules of individual 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.