Yard Club charges a transaction fee for connecting renters and owners. It also provides a standard rental agreement and makes sure both sides are insured. There are more than 3 million pieces of construction and mining equipment in service in the U.S. and more than three-quarters of them are lying idle!
Rather than shopping for a new dozer, Manuel de Freitas, president of the Livermore, Calif., company, used an app on his phone to find one he could rent for two months. The rental of a Caterpillar D6T dozer, costing about $7,500 a month, was arranged through Yard Club Inc., a San Francisco-based firm trying to build a marketplace for idle heavy equipment, much as Airbnb Inc. has become a way for people to line up short stays in spare bedrooms. “You don’t know what the workload is going to be,” Mr. de Freitas explains, so it is better to avoid too many purchases of heavy equipment.