Many medical professionals and facilities require access to a wide range of medical equipment that they don’t have the budget to purchase outright. 

Considering the amount of equipment a hospital, clinic, private practice, or other healthcare facility needs, keeping this equipment on hand can be incredibly cost-prohibitive.

If you own and operate a company that rents out patient monitors, gurneys, ventilators, or durable medical equipment (DME) like wheelchairs, crutches, and oxygen equipment, you want to make sure that your property is treated well so you can continue to rent it out. 

While some wear and tear is to be expected, a medical equipment agreement rental template informs lessees of your terms and penalties and secures their agreement. 

How can you create a contract that protects your interests?

Get A Medical Equipment Rental Agreement Template

When it comes to creating a medical equipment rental agreement, you don’t have to reinvent the wheel or make your own. Quipli has a rental agreement for purchase that is used by many of its own clients.

need a rental agreement template for medical equipment? Click here to find out more

What Does a Medical Equipment Rental Template Need to Include?​

Medical equipment may be used to support life-saving treatment or aid in patient recovery. For this reason, the owner of the equipment bears some responsibility for its condition. 

When you lease equipment out to care providers, you need to contractually agree that they will take on the liability of maintenance and usage.

Your medical equipment lease agreement will also include standard details like duration and cost, restrictions on usage, and penalties for loss or damage. 

Beyond the basics, however, you need language specific to the gravity of the medical purpose for which this equipment is intended. Here are some of the most important points to cover in your lease agreement.

Term of a Lease

As the equipment owner, you may want to offer a range of lease lengths for your clientele to choose from based on their needs. 

Or you might prefer a standard time frame of, say, six months or a year, after which the lease could be renewed or renegotiated. 

Either way, one of the first things you should cover as part of your basic client management is the duration of the lease.

Payment Terms

Once you’ve chosen a lease term, it’s time to spell out your expectations for payment. What is the cost of equipment rental? Do you expect payments on a weekly or monthly basis? Will you offer a discount for prepayment of, say, a full year in advance?

You need to decide whether to offer maintenance services as part of the lease (with the cost baked in) or to offer this as an extra service option with a separate fee. You could also make renters responsible for this activity. 

You may want to require a security deposit to cover any potential damage to equipment.

There should also be stipulations regarding fees for late payment. Don’t forget to include policies and costs related to damage or loss of equipment during the lease term.

Restrictions on the Use of the Equipment

Before finalizing a lease and scheduling equipment delivery, you need to set limits on the use of the equipment. 

These could include specifications on how the equipment should be used, but you may also want to spell out prohibited usage that is likely to result in damage or loss. State the associated repair or replacement fees. 

Make sure to include specific language detailing where the equipment can be used, such as in a specific facility or perhaps at a number of facilities within an area.

Loss or Damage to The Equipment

Any DME rental agreement will have to include language related to the penalties for loss or damage and specifications about what constitutes loss or damage.

Requirements for the Condition of the Equipment Upon Return

You know what condition your equipment is in when you lease it out to a client. Before accepting a booking, you need to specify the condition it must come back in to avoid fees or loss of deposit.

Termination Clauses

As the owner of expensive medical equipment, you should reserve the right to terminate the rental agreement early if certain things occur or certain conditions aren’t met. This could include problems like failure to pay, storing or using equipment off-site, or damage to equipment.

Indentification and Liability Clauses

When you’re starting a medical equipment rental business, important that you protect yourself from liability in the event that patients, renters, or others are harmed through the use of your medical equipment. This is especially true in cases of misuse, negligence, malicious behavior, or other mistakes on the part of the renter. 

Indemnification and liability clauses are a critical part of any medical equipment rental agreement.

Protect Your Medical Equipment Rental Company with a Comprehensive Rental Agreement

A medical equipment agreement rental template is a means of protecting your company and assets, and it has to cover several important points to absolve you of liability and ensure a profitable enterprise.

Contact Us Now for a Rental Agreement Template

Build Your Quipli Rental Business with Quipli

 Quipli is an all-in-one software solution for rental businesses. Our equipment rental software helps rental companies track their inventory to maximize revenue-generating opportunities and integrates with our reservation & scheduling app for a seamless customer experience. Reach out to the Quipli team today to learn more.

Learn more about medical equipment renting with our and our guide on how to start a medical equipment rental business and exploring our medical equipment rental software.

Learn About Quipli’s Medical Equipment Rental Software

If you’re in the business of renting out heavy equipment, an inspection checklist will help you maintain your equipment in safe operating condition, which means saving money in the long run. When used properly and diligently, these checklists will protect your assets and add an extra layer of accountability to ensure your business continues to run smoothly. 

While your techs may inspect the obvious components like tires and lights, it’s important to take advantage of comprehensive checklists like our free version below so that no detail goes unchecked. After all, you owe it to your customers to provide safe equipment that functions as expected.

Free Heavy Equipment Inspection Checklist PDF

Relying on memory during an inspection is a great way to ensure that something ends up getting missed. On the other hand, a well-constructed heavy equipment inspection checklist is a solid tool to keep your inspections streamlined. 

Using an equipment inspection from PDF can further increase business efficiency since your techs can complete their inspections with a mobile device rather than constantly needing to print new paper forms.

So take the first step in safeguarding your business and assets today with our free checklist PDF.

If you choose to use it digitally, make sure you still print off a few copies to give to your rental customers. You can even include one in the cab of each piece of equipment for their convenience.

Another benefit of using a digital checklist is the ability to catalog inspections easily and share them with your team. This way, logs don’t go missing, and you can streamline the maintenance request process too.

Download Quipli’s Heavy Equipment Checklist PDF

Why You Need a Standardized Heavy Equipment Inspection Form

By using a standardized heavy equipment inspection form, you will not only make sure your equipment functions properly, but you will also help to increase the life of your equipment and ensure its operators remain safe. 

You also reduce the risk of your business facing liability for accidents that occur due to a lack of proper maintenance. 

Prevent Accidents from Occurring

According to the Bureau of Labor Statistics, the construction industry saw 1,008 fatal occupational injuries in 2020 alone. Heavy and civil engineering construction accounted for almost 200 of those deaths, while specialty trade contractors accounted for 576. 

If you rent heavy equipment, the good news is that you can make a difference and reduce the risk of similar injuries and deaths when your customers choose to work with you. Checking your equipment regularly will safeguard you and your customers and limit casualties.

Reduce Overall Maintenance and Repair Costs

Performing routine inspections with a comprehensive equipment inspection log will help to limit costly repairs. By meticulously following a rigorous checklist, you’ll be able to identify problems early on before they become major ones, keeping your repairs cost-effective.

Replacing a major piece of equipment, such as an excavator or crane, can cost tens to hundreds of thousands of dollars. And due to inflation and supply chain issues, heavy equipment is only getting more expensive. However, if you properly care for your assets, major capital expenditures can be kept to a minimum.

What Should a Heavy Equipment Inspection Checklist Include?

Every equipment inspection form should comprehensively cover the components needed to start and operate a piece of equipment. After all, most operators will know to check the obvious things like oil levels, but it’s easy to forget something as minor as battery levels without a proper list.

You’ll want to perform three separate checks to ensure your equipment is client-ready: pre-start, warm-up, and shutdown.

Your pre-start check should be the most comprehensive, as you can get under the hood safely to examine the engine. As such, you’ll want to spend most of your inspection time here. 

Next, you’ll want to perform a check once the equipment has had 5 to 10 minutes of warm-up time, allowing you to check for issues like leaks that weren’t apparent during the pre-start inspection. This is when you’ll want to check for anything that requires power, such as lights and brakes. 

Finally, your shutdown should cover three key things: fuel, engine, and safe parking. 

Here’s a more comprehensive look at what each stage should entail:

Pre-Start

Before starting the equipment, you’ll want to check all of the following: 

• Parking: Before you start, ensure that the equipment is securely parked
• Seat Belts: Make sure all belts extend and lock properly
• Fluids and Oil: Check levels
• Visible Leaks: Examine the ground under the equipment
• Undercarriage: Look for worn or broken parts
• Engine: Check hoses, valves, and belts
• Tires: Look for nails or punctures, and check pressure and tread level 
• Rims: Look for damage to the rims and loose nuts
• Gauges and Lights in the Interior Cab: Make sure they are in working order
• Battery: Check that the battery is charged and connected
• Suspension: Check for vibration or concerning noises 
• Fan Belts: Look for any splits or tearing on belts, and check tension levels 
• Cooling System: Look for leaks or damage
• Fuel system: Check the fuel level and look for leaks
• General Condition of Cab Interior: Including horn, mirrors, wipers, and seats

Warm-Up

After the equipment has had a chance to warm up for several minutes, check the following: 

• Horns
• Back-Up Alarms 
• Air Filters: Replace if needed
• Lights: Including brakes, headlights, reverse, turn, etc.
• Hydraulics and Fluid Levels 
• Brakes: Check for air and fluid leaks

Shutdown

When shutting down the equipment, make sure to check the following items: 

• Fuel Tank: Fill the tank and securely tighten the cap
• Engine: Let the engine idle for a few minutes before shutting off 
• Parking: Park the equipment in a safe location 

Keeping Your Equipment in Great Condition with the Right Tools and Partners

The bottom line is that regularly inspecting your equipment can help you avoid customer complaints, expensive repairs and fines, and serious injuries. But inspecting your assets is only one facet of running an equipment rental business.

Thankfully, saving money and keeping your business running smoothly is what the Quipli team specializes in. That’s why we’ve provided a free equipment checklist that will protect your employees and your customers. 

The Quipli platform can further streamline your equipment rental business with equipment scheduling software, equipment checkout software, and a inventory management system to seamlessly keep track of your rental inventory. Reach out for a demo to learn more today. 

Download Quipli’s Heavy Equipment Checklist PDF

A Rental Platform for All Kinds of Equipment

No matter what your most rented piece of equipment is, Quipli provides an all-in-one system that combines an innovative inventory management and reservation system, rental website builder, Point Of Sale Software, and built-in reporting you need to make running your business that much easier.

Quipli’s equipment rental software will streamline your equipment rental business. Reach out for a demo to learn more today. 

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