How to Write a Professional Rental Quotation

A well-written rental quotation has the power to win customers and increase your revenue while protecting all parties involved in the transaction.

The key to constructing a good rental quote is understanding what your customer needs and knowing their expectations. It also involves an accurate calculation of your costs and profit margin.

Follow-up is always essential.

Knowing how to write a professional quote is important, but knowing how to present it is equally essential. There are several elements that should be included and structured in a way that is easy to read and comprehend.

What is a business quote and why is it important?

Simply put, a business quote is an estimation of the scope and cost of a project or service. It is recorded in an official document although it may be subject to change. A rental quotation is much the same and is also subject to change.

A rental quote details what is being offered to the potential renter, including the item that they want to rent, rental terms, length of rental, and estimated cost. The item that is being rented is described (including inventory or serial numbers), along with any accessories or add-ons. There may be a checklist that includes the condition of the items rented, along with parts that become detached but are not considered “accessories.”

For instance, a customer may rent a temporary fence, along with accessories such as Anchor Weights and a privacy screen. However, the standard temp fencing base may not be noted as an accessory even though it it detachable.

The checklist would then note the number of “temp fence panels w/standard bases.” That would tell the person checking the items to look for the standard bases as well as the fence panels.

A rental quote is a formal document. However, once the potential renter decides to rent the item, they will need to sign a Rental Terms and Conditions agreement which is a legally binding contract.

How to write a rent quotation?

Before you get started, generate a quotation number for the order. It identifies the project and should be at the top of every document associated with the project. That way, if an attachment gets separated from the main document, you can easily see which quote it belongs to.

To write a rent quotation you could look for templates available online, but it is often much more efficient to create your own, on your letterhead. Once you know the elements to include, you can customize it to fit your company’s needs as well as your customer's. Here are the important elements to consider:

Basic Information

The goal is to form as complete a picture as possible of the client and project. This will help you identify their needs more quickly and spot areas where they could benefit from additional products or accessories.

The customer’s company name and point of contact name are essential, along with the POC’s phone number and email address. You will also need the project name and address for your records as well as the project start date and duration. Having the project address can also help determine the need for additional accessories and products.

If the ground is made up of a solid substance like concrete, or if it is undeveloped like grass or mud, different stabilization methods are required. A project in the heart of the city, surrounded by buildings, will typically have some needs that differ from a project out in the open where high winds are possible.  

If your company is bidding on the project, you’ll want to confirm the bid date. You should also inquire if the project is a military or government contract or some other site that requires special access.

Installation is another factor to consider. If it is requested or required, you will need to know if your crews will need safety training beforehand.

You’ll want to list as line items the sizes and descriptions of the products, items, materials, services, and accessories that will be included in the rental. And don’t forget to leave room for any special instructions.

Your Business Information

Your company’s information is a vital part of any rental quotation, as it adds credibility and transparency. Be sure to include your company name, address, and contact information, such as phone number and email. If your business has multiple locations, specify which branch or office the quote is being sent from, especially if different branches manage different regions or services.

It’s also helpful to add your company’s logo and website link to give the document a more professional appearance. This ensures the client can quickly access your website if they need more details about your products, services, or terms.

A quick mention of relevant certifications or licenses can also add value, especially in industries where compliance and safety standards are critical.

Include the terms and conditions of your service

Every rental quotation should outline the key terms and conditions to avoid misunderstandings later.

This section should clearly state the duration for which the quote is valid (e.g., 30 days), as well as any terms regarding payment—such as when payment is due, the methods of payment you accept, and any penalties for late payments.

It’s also important to mention any costs associated with additional work or changes to the project. For instance, if the customer underestimates the number of items required (like not renting enough anchor bases for temporary fences), you should explain how this could result in additional charges for transportation, labor, and equipment adjustments.

Include clauses about project changes that may impact your services. For example, incorrect measurements or delays in site preparation can lead to extra costs, such as needing to revisit the site to deliver more products.

Finally, make sure to note any cancellation policies, liability clauses, and insurance requirements, so the customer fully understands their responsibilities before they sign the agreement.

Additional products and services

You can include an additional page or create a separate checklist and attach it to your quote, listing additional products and services that may benefit the customer. The sheet should have project details, POC details, and relevant requirements as well as the product information and description.

Most of your customers are not fencing experts. They may not realize that fencing in areas with high foot traffic need Anchor Bases that are highly visible. They may not know that fencing set up in areas prone to windy conditions need a little extra stabilization, thinking that the standard base will suffice.

It's your job to list these items along with why you are listing them. And you need to go over that with them verbally as well. People don’t know what they don’t know, and your recommendations could save them a lot of trouble, time, money, and legal and compliance issues.

Other accessories such as fence screens may seem cosmetic to the customer, but you can inform them of the benefits like increased privacy and security.

All the information that you’ve gathered on the project and the customer will factor into the add-on products that you choose. You can look at the project details, location, time of year, and duration – all these are key in determining supporting items to offer.

Educate your customers and explain why these products are essential or useful. Expound on the benefits, especially from a financial perspective. Including the pricing can help them determine what fits in their budget or if they need to increase their budget to accommodate the extra.

How to properly price your quotation

Accurate rental pricing should satisfy three critical needs. It should be fair, so it retains quality customers and attracts new ones while helping you remain competitive in the market. And of course, it should generate a profit for your company while covering your costs.

To arrive at the right rental price for your items, you need to consider these key factors:

• Equipment cost when new
• Depreciation
• Maintenance costs
• Repair costs
• Market demand
• Duration of the rental
• Insurance
• Training
• Storage
• Transportation
• Delivery
• Installation
• Labor

Take a look at other rental businesses in your region: Are they charging by the duration of the rental? Are they charging by perimeter length?

Most of the information needed for setting a price can be obtained through market research and reviewing your expense records. Check out our detailed guide on pricing strategies for fence rental companies for more information on this topic.

It’s OK if prices are approximate in the initial quote. You start with the estimated prices and solidify them once the terms are nailed down.

Before sending the quote to your customer, double-check all the information: product details, price, conditions, contact information, and spelling. Sending a document without mistakes reflects positively on your company.

Delivering Great Service Through Professional Quotations

A professional quotation that includes all the necessary details and provides recommendations for meeting the additional needs of the customer is great service. It elevates you from being just another vendor to a supportive partner in their business.

By creating a rental quote template customized to your company’s needs, you can respond faster when a customer places a request. Ideally, you should answer every request within 24 hours of the initial contact, as timely responses show your commitment to excellent customer service.

Prompt communication not only builds trust but also keeps your company top of mind, increasing the likelihood of closing the deal.

To make your business stand out, you must offer great customer service in all interactions. Check out our list of 12 actionable tips you can start implementing in your rental business today!