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325 usb pc camera amcap driver. FINANCIAL STANDARDS FOR THE EQUIPMENT RENTAL INDUSTRY Definitions Calculations Examples RENTAL MARKET METRICS. MARKET METRICS. In other words, if the average rent for three bedroom. Las Vegas' apartment market held quarterly increases in both. All information courtesy of ARA Advisors Las Vegas.
The American Rental Association (ARA) last week introduced its ARA Rental Market Metrics™ white paper to industry analysts through a special webcast on Oct. More than 20 analysts participated in the program, which focused on ARA’s recently published document that defines methods for calculating and reporting rental performance metrics. Christine Wehrman, ARA’s executive vice president and CEO, said the lack of standards has made it difficult to compare equipment rental company performance because the measures vary from company to company.
She said this led to ARA’s 18-month development process to produce the white paper. “Now, benchmarking can occur and the performance of the equipment rental industry can be demonstrated to all interested parties including lending institutions, investors and analysts,” Wehrman said. ARA Rental Market Metrics™ provides equipment rental companies a consistent way of calculating and reporting critical performance measures. It develops industry standards for the definition of a day, original equipment cost (OEC), and for the calculation of time (physical) utilization of equipment, financial (dollar) utilization, fleet age and period-over-period percentage change in rental rates. Using the metrics within a rental business is voluntary, but Wehrman said ARA is taking several steps to encourage implementation throughout independent and regional or national rental businesses by informing ARA members and industry analysts, as well as working directly with software companies and other parties interested in obtaining licenses.
“ARA, the trade association of the equipment rental industry, undertook this this initiative to further the growth and professionalism of the industry. We want members to have the information available to them for managing their businesses for performance and growth. Use of these standard rental metrics can help them be more successful,” Wehrman said. John McClelland, Ph.D., ARA’s vice president for government affairs, project leader and co-author of the white paper with Michael Graboski, Ph.D., an ARA consultant, said the intention is to provide the industry with precise formulas for metric definitions that are appropriate for the equipment rental industry and unambiguous. “Several key performance metrics for equipment rental businesses are unique to the equipment rental industry.
Most of these metrics are associated with fleet efficiency and utilization. Consistency in reporting metrics was missing in our industry and made it virtually impossible for rental businesses to assess their performance relative to their peers,” McClelland said. ARA convened an industry-wide advisory group to lend counsel and advice during the development of the ARA Rental Market Metrics™ whitepaper. Dan Kaplan, a rental expert from Daniel Kaplan Associates, Morristown, N.J., provided the initial inspiration to ARA for this project and contributed to the effort. For more information, contact Tom Hubbell, ARA’s vice president for marketing and communication at 800-334-2177, ext.