Construction business
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Construction business
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Could Peer-to-Peer Equipment Rentals Revolutionize the Construction Industry?

A new start-up company aims to make it easier for commercial construction companies to get the equipment they need, and to make money on the equipment they aren’t using.

Based in San Francisco, Yard Club is a peer-to-peer equipment rental service that has two primary aims: to allow contractors to generate some income on idle equipment, and to provide rental equipment to other contractors at a price that’s lower than traditional rental services – by as much as 40 percent.

At Leon Williams Contractors, we know that it can be very expensive to rent specialized equipment for a particular project – but it’s not always worth the investment to buy equipment that you don’t use on a regular basis. That’s why we’re very intrigued by the Yard Club concept.

It works in a similar way to vacation rental sites like Airbnb: contractors become members of Yard Club, go through a pre-screening, then list their idle equipment that they want to make available to other contractors. Those other contractors then search through the listings to find the equipment they need. Yard Club takes care of the scheduling and the paperwork, including insurance verification, rental agreements, and payments. Equipment owners would be responsible for routine maintenance, while renters would handle any damage. Yard Club also has mechanics available in the event of an emergency.

A recent ENR article highlights how much such a service can benefit contractors: one contractor made an extra $14,000 by rending out a bulldozer he had sitting idle. The contractor who rented it saved more than $8,000 by renting through Yard Club rather than going through a traditional rental service.

Yard Club is in the process right now of expanding throughout California, with plans to start up in other cities across the country next year. It remains to be seen if the model is sustainable long-term and nationwide, but for now, it’s got a lot of contractors excited about the possibility of not only saving money, but earning some extra income.

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