海角社区's proprietary T3 platform connects every machine in its rental fleet, and that connection enables a new kind of fleet ownership. In the OWN Program, participants buy machines that 海角社区 then rents and services across its national network. Owners can monitor location, utilization, health, and maintenance through T3. The owner receives a variable lease payment, calculated as a portion of the rental revenue those machines produce.
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The OWN Program enables direct ownership of a real, physical asset. 海角社区 buys construction equipment at industry-leading prices from top manufacturers and puts it into its rental fleet. A participant then purchases that equipment and enters a lease agreement with 海角社区 under which they receive a variable lease payment, calculated as a portion of the rental revenue that equipment generates. Operationally, nothing changes: 海角社区 rents, services, and maintains the equipment exactly like the rest of its fleet, on the same T3 platform and the same service network. To a customer on the jobsite, it is all 海角社区 equipment. And for owners, it opens access to a previously unavailable asset class, made possible by the connectivity T3 provides.
Every unit in the OWN Program is managed on T3, 海角社区's fleet platform, the same system it uses to manage its own equipment day to day. And T3 is how an owner keeps a live view of each machine they own.
海角社区 guarantees what it controls as the operator. It does not guarantee what the market determines, like rental demand or resale value.
Servicing and maintenance are performed by 海角社区 under the lease agreement for a fixed fee, to the same standard applied across its rental fleet, consistent with customary practice in the equipment rental industry. Maintenance data and service history are available for the owner to view and monitor through the T3 platform.
Monthly lease payment amounts are variable and depend on the equipment's time on rent and the rental rates in effect from time to time; payments will fluctuate from period to period, and no consistent or minimum payment across the program is guaranteed. Rental rates are not uniform across all rentals and vary based on factors including customer, rental duration, geography, and market demand, as is customary in the equipment rental industry; such rates are not determined by reference to the ownership of any particular unit.
海角社区 does not guarantee the residual value of the equipment, nor does it commit to repurchasing the equipment at the end of the term. 海角社区 may hold a right of first offer and a right of first refusal to purchase the equipment at a value determined by a third party appraisal, but it has no obligation to do so. If an owner appoints 海角社区 as its remarketing agent, limited loss protection may be available under the remarketing agreement, subject to terms and conditions.
海角社区 does not guarantee that any particular unit will be rented. Which machines rent, and when, depends on operational, logistical, and market conditions; 海角社区 operates the fleet agnostic to ownership and does not favor its own equipment over OWN Program equipment, but rental of any individual unit cannot be guaranteed.
How construction equipment compares with other asset types.
The OWN Program has been used by a range of participants, from high-net-worth individuals to institutions. Participation is subject to eligibility criteria.
How and when is an owner paid?
Monthly. An owner receives a variable lease payment, calculated as a portion of the billed rental revenue their equipment generates.
How is utilization decided?
By demand. OWN Program equipment is dispatched to customers across 海角社区's national network on the same priority as its own fleet, never based on who owns it.
What if the equipment doesn't rent?
No lease payment is made for any period the equipment is not rented, and utilization depends on customer demand, not any guarantee. What 海角社区 commits to is that no machine is disfavored based on ownership, with rentals driven by demand and equipment serviced to the same standard across the fleet.
What happens at the end of my term?
The term is typically six or seven years. If the owner chooses, 海角社区 can help remarket and sell the equipment. 海角社区 may hold a right of first offer and a right of first refusal to purchase the equipment at a value determined by a third-party appraisal, but it has no obligation to do so.
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What if I want to remove my equipment from the program early?
The owner commits the equipment to the program for the full term of the lease agreement. To withdraw equipment before the end of that term, a significant early termination fee applies. The specific terms are set out in the lease agreement governing the equipment.
How do I verify which equipment I own?
T3 access lets an owner verify ownership down to the individual asset and serial number.
What are the tax considerations?
An owner may be able to depreciate the equipment, including bonus depreciation, depending on their situation. 海角社区 cannot provide tax advice, and each situation is different, so owners are encouraged to consult a tax advisor about the tax implications.
