Recent Rental Rate Blue Book Updates: Don’t Leave Money on the Table
Over the past year, the EquipmentWatch team has carefully observed equipment costs, surveyed hundreds of equipment owners, and incorporated extensive field research to accurately understand economic conditions affecting the construction industry. Our expert team of over 20 world-class analysts worked tirelessly in the first half of 2020 to incorporate significant updates to the Rental Rate Blue Book, including the following:
- Over 300 new equipment models were added to the Rental Rate Blue Book
- Over 900 size classes received economic life hour and annual use updates
- Hundreds of models updated to include the latest tire factors, including costs and life hours
These updates mean all our rates now reflect the latest cost data in the market, including fuel prices, mechanic’s wage, cost of money, and more. In addition, hundreds of equipment configurations had monthly ownership and hourly operating cost changes of more than 10%; which means if you are using an outdated version of the Rental Rate Blue Book, you could be losing out on significant cost recovery and leaving money on the table. For just one asset, this could easily translate to a significant loss on an equipment-related change order.
With updated rates for over 25,000 models, our flagship cost recovery product (the Rental Rate Blue Book) is the industry standard for ownership and operating costs. Our mission for over 50 years has been to simplify the reimbursement process in extra work situations by providing charge rates for equipment that are accurate and realistic.
In addition to the Rental Rate Blue Book, to ensure costs are covered, it’s important to address your internal rates. As a powerful tool for managing customized adjustments, the EquipmentWatch Internal Charge Rate Calculator enables contractors to accurately calculate internal rates for usage of heavy equipment assets with cost estimates and trends based on the data collected from hundreds of thousands of observations monthly.
To help address these dramatic changes, EquipmentWatch offers affordable plans built around comprehensive feedback from project owners and contractors.
CLICK HERE to explore the updated Rental Rate Blue Book
To learn more about the Rental Rate Blue Book updates and ensure that you are optimizing your reimbursement, reach out to us by phone at (888) 307–1713, or click below to schedule a demo:
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