reasonable weekly rental rate?

[eliza-morrison]

A young harpist visiting the area has inquired about renting my L&H Style 17 for one week. I’ve never rented by the week before; anyone want to give me some guidance about what would be a reasonable amount to charge? Thank you!

[Alex Flores]

Have you rented per month? If so, just divide that by four.

[eliza-morrison]

Hi Alex,
Yes, I’ve rented out instruments by the month, but I wasn’t sure whether dividing that amount by four was the best way to figure it, especially since I’ll be delivering the harp to the client and picking it up a week later. When I’ve rented harps in the past for one performance, the amount I’ve paid was not 1/30th of the monthly rental rate. What do you think?

[Evelyn Tournquist]

Eliza, I think most people would expect to pay the going monthly rate. I can’t imagine that it would be worth it to you to let it go for less than that especially if you are picking up and delivering. Will you be charging a delivery fee as well?

[eliza-morrison]

Thank you, Evelyn! I’m not sure about the delivery fee…perhaps it would be reasonable to do so, since about three hours of driving (altogether) will be involved. You’re right, a quarter of the usual monthly rental would barely cover the gasoline! Yet I don’t want to make it so expensive that these folks are put off; I really would like to offer them the use of the harp for a week, as it would be very helpful to them. Trying for the right balance here.

[shelby-m]

I think as you are negotiating the price, you should tell the people
renting it for a week that
it is really very cheap compared to the cost of renting a harp for a
single performance.
Perhaps you should call around to some local harp shops/retailers to see what they’d charge for a week’s rental + delivery/pickup?

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