Benefits of GPS Tracking for Equipment Rental Businesses

Benefits of GPS Tracking for Equipment Rental Businesses

Most corporate leaders are choosing to rent rather than invest in heavy machinery they may only use a few times per year.

You will need to start somewhere if you’re just starting out in landscaping. You will spend a lot on lawn mowers, garden tools, safety gear, and leaf blowers. Instead of borrowing them, renting them would be a smart financial decision.

You can rent equipment rentals from small, seemingly insignificant lawn mowers to heavy forklifts. Regardless of the machine’s cost, it is unlikely that your company will incur any unexpected expenses by losing one.

How can you keep your rental properties safe?

The most efficient way to track your equipment is by using GPS tracking. This method has been increasingly popular due to the possibility of rental companies losing equipment due to fraud or genuine errors. A binding agreement is signed when a renter purchases equipment for your company. Although you can trust them, it is important that you monitor your equipment once they have left your premises.

Follow Their Movement

The US equipment rental market increased by 8.1% to reach $38.5bilion for 2015 alone. Let’s take, for example, a truck. Three vehicles were rented by a rental company to a trusted distributor. They had an agreement about the areas that would be covered. Without notifying the distributor, the manager of the transport company installed all three vehicles with GPS trackers within an afternoon. The transport manager tracked one truck hundreds of miles from the agreed area over the weekend. The company calls the head transport of the distribution company to learn more about what the truck drivers do after work hours.

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Installing tracking devices on your vehicles is the best way to track them and see if your agreement has been honored. You will have peace of mind knowing that your vehicles are visible. You will also be able to see the value of your asset, even if the renter uses it beyond the agreed parameters. You may be wondering how that works. You can show them the records of their usage to prove they exceeded the limits and that they should be paid for it. You can also help the police locate them and recover them if stolen.

Finding them in Storage or In Transit

Smaller items can ‘disappear’ from storage. Installing trackers can help you track your items easily. This will reduce your search time by half.

Although this one is a little sensitive, it does happen. Sometimes items get lost in transit. You may consider installing trackers to monitor the items that have been lost on the way to the customer. You will track your employees’ movements to ensure they arrive at the client on time.

Parting Shot

One study of fleet driver behavior revealed that they behaved better when they knew they were being monitored. Their delivery efficiency increased by 11% and their idle time decreased by 9%. You will be able to sleep better if you use GPS tracker systems.

Fleet GPS tracking provides reliable information to businesses about the location of their vehicles, and the behaviour of their drivers.

 

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