EquipmentWatch launches improved rental rate benchmarking product
July 23, 2015 - A newly improved Advertised Rental Rate Product was recently released by Penton's EquipmentWatch, a provider of data and insights products for the construction, lift truck and ag equipment industries.
“Through our Rental Partnership Program launched earlier this year, we have significantly improved our Advertised Rental Rate product with an increase in the number of rental companies participating, now at 36,” said Garrett Schemmel, Managing Director, EquipmentWatch. “We would like to extend a sincere thank you to our rental partners. To us, their support is a big statement about their need for accessible data and insights products to make better decisions aroun! d heavy equipment, specifically the need for insights around advertised rental rates.”
In addition to improved precision, model coverage within the product has doubled to nearly 18,000 models while updates are increasing from once per year to once per quarter.
“Rental Partners will also receive custom insights and analytics,” said David Pham, Industry Analyst. “Regional trends, equipment category trends and more will be shared with our partners, as well as broader reports like our Auction Market Quarterly Report.”
“As one of three heavy equipment data benchmarks provided by Equipment Watch, the Advertised Rental Rate Product can be used in combination with other benchmarking products to improve the accuracy and speed of equipment-based decisions,” says Garrett. “For example, by combining rental data with the Ownership and Operating Cost Benchmark Product, an equipment manager can make rent vs. own decisions for hundreds of assets in a matter of minutes, something they have never been able to do before.”