Purchasing or Renting Equipment

4

45thronin

I've decided to purchase most of the equipment I will need to do my short. Simply because I intend on filming my feature with this equipment in the future. With that, I've spent quite a bit (audio equipment, lighting, etc.). The only reason I wanted to do this, was because when I would call up for costs on rental equipment, it was just as much as I've already spent purchasing. My philosophy was that at the end of the day, at least I would have the equipment that I could either sell, rent (which I'm considering), or use for another production. The only things I'm renting are the things that are way out of my cost, like lens. That's really the only cost I've found that's just crazy money. Other than that, renting the equipment, I got quotes of just renting tripods for $30 to $50 a day. With adding up the cost for the time I was shooting, it made more sense just to purchase a second-hand tripod, which I did. And got a really nice one.

The cost I didn't realize would take up a lot of my money, were things like purchasing cases for the equipment. People don't generally think about purchasing a tripod case for their tripod. They just put it in a bag, or sometimes not even that. Believe me, you want to spend the money and put it in a hard case. Especially if your tripod is expensive. I've had people simply drop a tripod, there by damaging it. After that, I decided to suck it up and purchase the hard case.

I'm pretty set with purchasing the equipment, but wanted to at the very least get some feedback from you guys regarding Purchasing vs. Renting equipment. As I really value the opinions I've gotten thus far from this great site (Indietalk.com).

Thanks!
 
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Next time you call for quotes don't ask about day rates, ask about weekly rates. From where I rent (Du-All Camera) they have a one-day week rate, meaning if you rent it for a week, they charge you for a day. Some other places have a two-day week rate (Arri CSC), etc.
 
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Very much like you, I purchase equipment that I will use often and
I rent equipment that I don't use as much, can't afford or that I
can't store. For example: I rent most grip/lighting equipment
like c-stands, flags/scrims/silks, sand bags, apples and e-fans.
I use these items on every show but just don’t have the storage space.
 
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Thank you both for the comments. I just wanted to verify that I wasn't out of my mind purchasing the things I would use continually. Like Indietalk was saying, I didn't know there was that much of a difference between the daily and weekly rate. I didn't even think about asking about the weekly rate.

I am actually thinking about renting my equipment out to local indie film makers, including my camera. What do you think about that? Some friends of mine think it's a bad idea.

I'm looking at it this way. I'm having my lawyer draw up contracts for people to sign, and also will require that the person has Production Insurance that will cover my equipment. So my thought is why bother having my equipment just site there.

Thoughts?
 
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The only major downside I can see to renting out your gear is that it won't last as long, but on the other hand, you'd be getting a return on the investment from the rental fees and that money can be funneled into maintenence, upgrades, and future projects of your own.

Another option you may not have considered would be to rent yourself out with the gear as an operator, that would at least give you the peace of mind that your stuff is being handled properly, but it would depend on whether your schedule permits and whatnot..
 
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I wouldn't rent out my equipment. If you see it sitting there and by just sitting there you see that as money going to waste make a film, or as Will says, use it as your kit when you work. It's called "kit rental" when you come with added equip.
 
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Excellent point Will. Something I didn't think about, renting myself out with the equipment, hmmm. The only problem there would definitely be the time/scheduling issue. That would be the only problem.

indietalk, also a good point, and i have thought about that. That I think would be the only reason I wouldn't want to rent out the equipment, because of damage, etc.

My issue is, I just hate to have it sit there. It wasn't cheap to purchase, and it literally is doing nothing. Am I apprehensive about having the equipment damaged? Yes. But that's what I would put into the contract. Simply put, you break it, you fix it. Period. Wear and tear I could care less about, as long as I'm making money with it I'll just upgrade the equipment.

My only issue, is I don't want to be seen as a rental shop. I want to make my movies, which is why I purchased it.

I really liked your point indietalk, "if you see that as money going to waste, make a film." Excellent point!

Thank you both for your comments, very much appreciated!
 
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I see a problem with renting form someone who says to me
"Simply put, you break it, you fix it. Period."

When I rent from a rental house the most important aspect
for me is that I know the cameras are well maintained and if
there is a problem I have a replacement in a very shot time.
I can't afford to have a camera break down on me on a shoot
day and then have the person who rented it to me say, "Simply
put, you break it, you fix it. Period."

Now if you were the only game in town, then I would have to
accept those terms. There is a Super 8 rental house here in Los
Angeles and they are the only ones who rent pro super 8 cameras.
And that's exactly their attitude.

However I can rent pro video cameras from dozens of places. I
don't even go to the rental house right down the street from me
(whose prices are cheaper) because their counter people aren't
friendly and helpful. Where there is any competition at all I'm
willing to spend a little more for not only good service, but for
well maintained equipment and a good replacement policy.

Something to think about if you decide to rent out your camera.
What can you offer that rental house with several cameras can't?
What will you do if the previous renter tweaked a little something
that you didn't catch and it goes out when I have your camera?
And a full cast and crew sitting 4 hours from your house just waiting.....
 
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I am not an expert so my statment might not be accptable by experts...but there are advanteges in buying and in renting too.you already said the advanteges of buying that you will have the assets.on the other hand if you rent out you have the option to rent out every thing ....but in buying you cant get everything. Suppose you purchase CAM lighting.but you might cant buy the sound equipments..or you might not have the editing setup at home so you have to raise finance for editing your movie..all in all depend on your budget.if you have sufficient money buy everything or otherwise rent out



by the way is there any option of LEASING EQUIPMENTS in US and UK ??

The most important thing is are you planning your movie soon ??if yes then renting is best so that you will no need to test lighting etc.............and if you have time and you are planning your movie after few months then you have time to spend on lighting , camera handling etc
 
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Very true directorik, and I have thought about that. If I were to rent it out, which I'm actually leaning towards not doing, I would have to clarify that in the agreement, that if something does happen to the camera, I would not have a backup, which is definitely and advantage of renting from a big rental house. Although, with that said, I've worked a lot with this digital camcorders (Canon, Sony, etc.), and have never really came upon any problems. As long as the camera is taken care of and the environment you're shooting in is clean, then you shouldn't really ever have a problem. Sh-t happens, but the camera's I've used have never given me any problems.

The key is to get to know your camera so you know what to expect, and to always have a backup ready if needed, if possible.

Regarding when I'm shooting my film ad2478, I've actually pushed back the shooting dates several months, as I want to reevaluate my shots, blocking, etc. Plus I may have to devote more money to the project, which I'm not that thrilled with, but what can you do.
 
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And if you can find renters to rent with that understanding
it seems like you might be able to make a little money. Is
there a demand in your area for camera rentals from individuals?
And for the camera that you own?

I'm wondering how people will even know. Here in L.A. I imagine
there are individuals renting out their cameras but I have no
idea how I would find them - or how they would find me. I'm
thinking that if I could rent a second high end camera for considerably
less than a rental house, it's something I just might do.
 
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