Is it bad to rent out your own tools?

ultra7350

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Donor 6 years: 2011, 2015-2019
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I had a few different careers in my life. To name a few... as an Jaguar automotive tech, building homes, concrete work, tile installer, handyman and now an electrician. I invested alot of money in different tools thru the years between $20k-$30k worth.

I'm not friends with none of my neighbors but it seems like the only time they want to talk to me is when they need something. It gets kind of bad in the summer when I'm working in the garage on projects. When I have my garage door open it seems like it is an invite for everyone to walk in to bother me and to see what I have inside. I don't mind helping out friends or borrowing out small tools. I just getting tired of loaning out some of my expensive tools like my $1200 mk diamond tile saw or my $800 miter saw. Then they keep the tools for a long time. Sometimes after a month I have to knock on there door and ask for the tools back.
So I decided to get a home depot tool rental price list and rent my tools out for half the price what Home Depot rents them for. Last night another neighbor knocked on my door and wanted to borrow my air compressor and nail guns. I told him about the daily rental fees and he got pissed because he thought it was unfair since he borrowed the same tools from me a year ago for free.
 
I've had similar experiences.

You have an interesting approach, but I wouldn't try it. I would think it would just pisss my neighbors off more than saying "no".

Nowadays I just say "no". If they ask why, I tell them.
 
I dont lend tools no more. I lend tools and they get broken and all I get is a sorry. Sorry dont get me a working tool and I have to buy a new one.. I would just tell them no and not worry about it. If they only come to see you to ask for a tool then they are just users and I wouldnt even deal with them in the first place..
 
I don't see a problem with it, especially for the more expensive stuff. I don't mind letting people borrow smaller tools, or parts, or whatever they need to test/fix something. But if it's a $1200 tool, that's a bit different; especially when you have the bug them to get it back. That's kinda rude.

If I was working on a tile project and needed the saw, I wouldn't mind paying you to borrow it for a while. Especially if I'd get it for a bit longer than Home Depot, and cheaper. I would see it as a thanks for letting me use it. In the end, it's your stuff; you can choose what to do with it.
 
I have a neighbor who always asks me if he can use my poker table for his poker games. Most of the time I am also invited to play when he asks. Last time he asked but said I couldn't play because they already had the max players. I let him use it that time but the next time he asks I'm not going to lend it out. If he needs something fairly regularly he should buy it. I don't get stuff because other people may need it. I get stuff because I need it. It's your stuff, if they are not friends then who cares what they think.
 
Its not worth it, no one treats a "rented" tool as if its their own like you would, ensuring your investment lasts as long as it should (for when you need)

Keep it to friends and family, or sell yourself as a service (you using your tools on their project) if you want money
 
it all depends on what kind of neighbor that you want to be. The first thing my neighbor across the street from told me when i moved in was if i ever needed any tools feel free to ask and he would let me use them (kick ass right). I have never really asked to use anything yet but its nice to know you have a friendly neighbor like that. he has given me some cool stuff that that he said he didn't need anymore more, he even watch my dogs when i had to go out of town for a week. I think that helping him out with something like a tool or using my yard wast can when he has extra trimmings is a small price to pay.

You sound like a cool guy because you have been letting people use your tools for so many years. sucks that there are some you have to track down and get them to return. maybe instead of charging them for the tools, try asking them for some help on your next big project. start cashing in on all those favors you have given out over the years. the work seems to go a little faster when you got like six guys helping you paint your house or install your new sprinkler system.
 
I think you're doing the right thing. If they're not really friends, who cares what they think?
 
I personally would not charge. Helping my neighbors is what is so great about living where I do. But based on the cost of some of your tools. I think it would be fair to ask for a deposit of some small amount. This would insure your tools don't stay away too long.
 
I wouldn't have a problem but I never get any favors in return or get invited to there get togethers with friends and other neighbors. I guess I'm a person who keeps to myself. If in need something I will just buy it.
 
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People get the hint.

We borrowed a couple of fold-out tables to accommodate some extra people at Christmas one year. When returning them, my wife said "thanks- I don't know what we would have done without you".

To which the reply was "you would have bought your own tables".

So we went and bought our own fold-out tables and now we lend them to other people!

Problem solved! It did seem rather rude though.
 
Yes it bad to rent or loan out your tools and equipment

It not just broken tools being return, what if they injure or kill them self. They can blame your tools. Do you really want to deal with that headache?
 
I wouldn't rent my tools to anyone! People beat the shit out of rented stuff. For example when you rent a car. Do you drive it nicely? Or do you romp on it? I know I beat the shit out of rental cars. I would say its a bad idea.

Just my 2 cents

~Chris
 
If you don't want to. Just say no. You don't need an explanation. Just say no.

If you do loan a tool, keep a clipboard and pencil by your tools. Write down person, what tool, and time.

This is so if a few months go by and you start looking for it, you can easily remember where it is and not think you lost it.

I used to loan tools. Now I am down to only three people I would loan tools to. Because they return them it a timely fashion, and the same or better condition.

LTG : )
 
It is kind of like the farm I work on, if somebody wants to burrow the tractor they get the owner operator with the burrowed tractor also. I have kind of taken up the same policy. I don't mind helping somebody fix their own board and encourage it but I want to be there to help with the use of equipment. I also want to see how it is being used and stored if I leave it on the job.

No is also a valid answer.
 
The only problem when you start saying no after letting people borrow for free all these years..... Then they will think that you became that asshole neighbor and then word would get around to everyone else that lives near you.
 
I see nothing wrong with you wanting rent your tools. They're not Harbor Freight specials, they're quality items. You need to protect your investment.
 
Don't do it. Start charging rent and it's a business. All kinds of issues can popup.

If you aren't comfortable saying no, just make something up. You're using the tool tomorrow, or your brother is on his way to pick it up or just claim it's broken. You don't really owe anyone an explanation, but it can be kinder to "soft land" them with a little white lie if they are used to you saying yes.

I wouldn't worry too much about getting the rep for being that dick neighbor who won't help out. If they won't invite you to the BBQ now when you're being nice, there's not much you can do.
 
It's okay to say no to people. You owe it to yourself. Don't give out stuff you don't want to give out. If people think you are mean because of this, it is their problem not yours.
 
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