While reading a story recently of a camera rental shop that apparently got robbed it got me curious to just lookup the business to see what they offered to get a better idea of the amount of money they lost. What surprised me was the rental prices where while it isn’t unusual to have deposit fees this company had pretty high fees I thought. Or maybe it’s just normal for most versus the places I have seen?
It seemed like in all cases you had to pay a deposit fee of the actual price of the camera. So even though the rental may be say $500 per day if the camera costs $7000 then you literally need to deposit $7000 with them. I was thinking for that it almost makes as much sense as to just buy the camera yourself if you have that much money to deposit with them. Because who knows if something is actually already wrong with it too where once you return it they then claim you did it.
Usually deposit fees at most that I see are about 30% of the actual product value. Would you actually rent equipment where you are required to essentially deposit the same value as the item?