Loss of property and damage on sites is a problem that can affect productivity and drain profits. According to a peer-reviewed study on theft and vandalism, rental equipment is at a greater risk of theft and vandalism compared to other equipment. When you’re in the business of providing tools and equipment for others’ projects, you need to know those assets are working at their best, protected against vandalism, and — most importantly — still on your lot when it’s time to rent them out.
This guide will provide everything you need to know about protecting your tools and equipment rental company from threats, including theft, vandalism, misuse, and unwarranted damages.
Types of Assets on Your Property
A typical tool and equipment rental company has a host of valuable items on its lot, in a storefront, or in a warehouse. The high resale value of such assets draws the attention of thieves and vandals. Some of the assets on your property might include:
- Construction equipment
Construction equipment can become easy targets of vandals and thieves. It can include wheelbarrows, plate compactors, concrete cutting saws, nail guns, tile cutters, and more, with some of it more prone to theft due to its high portability.
- DIY equipment
As a rental business, you have probably invested in a vast collection of DIY tools to rent out. Bobbejaan spanners, bolt cutters, extension cords, hammers, spray guns, and vacuum cleaners are in high demand and have a high resale value.
- Drills equipment
Drilling equipment such as chuck keys, drill bits, core bits, light or heavy drills, and pneumatic drills don’t come cheap. This creates a good reason to have them protected at all times.
- Garden equipment
You can also rent out a range of garden equipment and tools such as chainsaws, leaf blowers, axes, bush cutters, garden rollers, and augers. Losing them to thieves and vandals can affect your bottom line.
- Dumpster rentals
Dumpster rentals are in high demand during house moves and construction projects. Protect your dumpsters against vandals using private security guards.
Many rental companies invest in all types of generators, such as generator DB board, 3 phase generators, and petrol and diesel.
- Lift equipment
Your company could also be stocking a range of lifting equipment rentals in your yard, storefront, and warehouse. Assets such as forklifts, bottle jacks, pallet jacks, aircon jacks, and acrow props are expensive and should be secured.
- Other equipment and tool rentals
Additional items that need monitoring include plumbing equipment, rollers, scaffolding rentals, welding gear, woodworking equipment, moving equipment, audiovisual equipment, sports equipment, office equipment, vehicles, and trucks.
Understanding which assets are high-value and coveted by thieves — or which make easy targets for vandals — is key to protecting your investments. Once you know what you are protecting, you are better able to take the proper precautions to keep them safe.
5 Steps to Protect Your Assets
It doesn’t matter whether your rental equipment is insured: Theft or damage can still harm your business. It is thus essential to know how to protect your rental equipment before thieves strike. Take the following steps to protect your assets:
Keep an up-to-date inventory.
Updated inventory sheets help track your assets and document where they are, their condition, and other important details. Failing to keep records of your assets leads to losses due to theft, misuse, and damage. Invest in a robust tracking solution to keep your assets secure.
Vet your personnel carefully.
Vetting candidates during hiring can significantly reduce workplace fraud. Some reports suggest that workplace fraud is increasing, too, meaning now is a good time to review your pre-employment checks.
Install cameras around your property.
Installing cameras on your property can be a great way to deter criminals from stealing or vandalizing your equipment rentals. The presence of cameras also automatically prevents criminal activity amongst your employees.
Have motion-activated lights and alerts.
Motion detection lights, alarms, and video surveillance can boost security around your assets. Motion detectors are often small electronic devices that quickly detect infrared waves — the heat waves that emanate from moving objects — for example. As soon as the detector senses an object in its field of view, it electronically turns on the lights or an alarm.
Working with a private security
An ideal private security provider manages your security with a custom plan. If you need a bulletproof security solution that keeps your equipment rentals secure against thefts and vandalism at all times of the day, professional security guards may be your answer.
It may seem extreme to consider enlisting professional guards at first, but armed and unarmed guards are trained to detect and respond to crime quickly. Their presence deters criminals from stealing or vandalizing your expensive tools and rental equipment, and that can be critical to protecting your bottom line.
What to Look for in a Security Company
Choosing the right security company is as important as the decision to enlist security in the first place. There are thousands of providers all claiming to offer top-notch services, but not all of them will suit your specific needs.
Here are a few things to look for in an ideal security company:
Different states have different licensing and operational requirements. Ensure the company you are contracting has all the required licensing to operate within your jurisdiction. A security company is required to engage only licensed officers. Security officer licensing processes ensure that officers have the appropriate training to perform their jobs professionally and safely.
Type of training
The ever-changing face of crime means training should be an ongoing priority for any successful security operation. The right company will provide continued education that enables officers to benefit from the latest skills, knowledge, and industry trends. An ideal provider invests in basic onboarding processes that include training on business operations, company processes, latest technological innovations, and job expectations.
When selecting a security vendor, one of the most critical things to consider is its rates. It is not advisable to go with the lowest bidder, for example, but you must ensure the security provider you choose justifies its rates with the value it provides.
Duration in services
How long a vendor has been in business can give you an idea about its reputation. Go for a well-established company with several years of experience in the services you need. Such a security company will likely have established extensive networks and contacts with local law enforcement officers or other authorities within your jurisdiction.
The right provider will also be familiar with local and personal security issues you could face, plus the measures to prevent them from affecting your business.
SMART Security Pros: Your Premier Security Partner
Businesses in tool and equipment rentals need to take appropriate precautions to secure their assets. Unsecured equipment is a common reason rental items are stolen or vandalized, and that can mean heavy hits to your bottom line. If you want to avoid asset losses to theft and vandalism, it may be time to work with a professional security company to protect them. Private guards provide around-the-clock protection and constant monitoring. Contact SMART Security Pros today to speak with our team of security experts about your tool and equipment rental security needs. Our staff is available 24/7 to answer any security questions you might have.