MCAA has joined forces with the National Electrical Contractors Association (NECA) and the Sheet Metal and Air Conditioning Contractors’ National Association (SMACNA) to create an even more robust Tool and Equipment Rental Guide to equipment recovery costs for mechanical, electrical, line and other construction contractors. The guide is now available for MCAA members to access via an enhanced web portal.
While all three organizations have in the past published a version of the Tool and Equipment Rental Guide this joint edition from MCAA, NECA and SMACNA is a new effort. The guide offers insights on contractor-owned equipment to ensure industry professionals have the most updated costs to inform internal estimating, project proposals for new and potential customers, and cost accounting efforts.
“Having reliable and comprehensive tool pricing data enables our contractors to provide their clients with accurate and reliable bids. This multi-trade research supports our members, and provides signatory contractors with the information they need to provide the highest standards of quality and service in the construction industry,” said Aaron Hilger, CEO of SMACNA. “With a shared goal of helping our members stay competitive, SMACNA is proud to collaborate with MCAA and NECA on this Tool and Equipment Rental Guide. It is a valuable resource that will support the important work of our collective contractors and their businesses.”
Construction tools and equipment are an essential part of any contractor’s business and can represent a significant investment. In addition to the large initial investment and the provision for eventual replacement, expenditures must be made for maintenance and repair, storage and handling, insurance, taxes, and interest. The comprehensive coverage of tools and equipment lends itself useful to a wide range of contractors who can benefit from transparent pricing. This year’s guide includes an expanded and enhanced rates selection experience. New equipment has been added and updated list prices across multiple industries are available for equipment, such as aerial lifts, air compressors, air tools, compactors, conduits and other raceway tools, connection and splicing tools, cranes, and much more.
“It is a construction industry best practice for contractors to include the cost of tools and equipment in job expense estimates,” said NECA CEO David Long. “It made sense to leverage the strong partnership between NECA, MCAA and SMACNA to put forth a comprehensive guide that meets the needs of all contractors as they develop bids to safeguard and grow their revenue at a crucial moment in time.”
As the construction industry experienced shifts in equipment availability, pricing and usage because of the pandemic, rates were impacted more dramatically compared to previous versions. EquipmentWatch, the leader in data, software and insight for the heavy equipment industry, worked with MCAA, NECA and SMACNA to consolidate their most recent guides and incorporate rental rates based on shared types of equipment. The rates within the report are derived from EquipmentWatch methodologies used in the construction industry and consider purchase price, depreciation, maintenance and overhaul costs, indirect equipment costs, and average annual use hours.
“Our contractors see tremendous value in our annual tool and equipment rental guide because it sets a benchmark on the cost of doing business in the industry,” said Tim Brink, MCAA’s CEO. “It was a purposeful decision to join forces with NECA and SMACNA, two construction industry associations whose members mirror MCAA members’ commitment to building and improving infrastructures within the communities they serve.”
The Tool and Equipment Rental Guide is now available for MCAA members to access via an enhanced web portal.