The ideal situation is to have a separate electric meter for the grain storage bin so the actual electricity cost is known. Taxes and Insurance. We have up to ten hydraulic bin jacks available for rent. Return on investment in the facility is calculated by multiplying an expected return on investment (annual interest rate) by the average value of the grain bin over its expected useful lifetime. This amounts to a six-month commercial rate of from 15 cents (9 + (2 x 3 mo. ) New Bin Halo Shackles are 100% made in the USA. Let's use a 10 horsepower (h. p. ) fan motor running 100 hours, a 2 horsepower stirator running 50 hours, and electricity cost of $. If anyone knows where I could rent them, you'd be doing me a GIGANTIC favor if you could tell me where. That is up to a 60ft. I need to find a source from which I can rent manual grain bin jacks in (or near) Bloomington, Illinois.
The payment schedule should also be considered. Bin Jacker Supply has everything you need from parts for grain bin jacks and virtually any brand of grain bin jacks. Only one-half of the original purchase price is used because, over the life of the bin, its average value is only half of its purchase price. The rental arrangement can specify that a minimum charge is paid at the beginning of the lease period with the remainder due when the grain is removed, or the entire amount can be paid when the grain is removed. Bin Jacker Supply has Bin Halos for any size job. However, there may be just a single electric meter for the entire farm, so the electricity usage may need to be estimated. Table 1 shows the expected useful life of grain storage and drying equipment. Generally, this is the owner of the grain, i. e. the renter. For example, to compute a farm storage rate for corn for six months, first identify the commercial rate.
Need to rent grain bin jacks in Bloomington, Illinois. As an alternative, use one percent of the original purchase price. Need them for a few days beginning memorial day. With a monthly charge, rent is charged only for the months that the storage bin is used. Below are other items you may consider when developing a grain storage lease. Is there a simple and uniform method of figuring a rental rate for farm grain storage? An example of estimating the annual ownership costs of a grain storage bin is illustrated in Table 2. For a $65, 000 grain bin, annual depreciation is $2, 600 (4 percent x $65, 000 = $2, 600). Similar calculations can be made if the bin is equipped with drying equipment, as well. The Bin Halo is a simple set up and work can be done with a 2 man crew. This is figured by multiplying one-half of the original investment ($32, 500) by a return on investment of 5 percent. The fixed rate per year is an annual charge for the right to use the grain storage. A Sept. 1 provision makes the storage facilities available for the upcoming crop. Bin Halo - Grain Bin Relocating Equipment for Sale.
Other Considerations. Nevertheless, commercial storage rates serve as an unbiased indicator of storage costs that reflect current supply and demand for grain storage. Electricity is another cost usually paid by the grain owner. Grain bin relocating is now EASY. Current Market Rates. To estimate annual repair costs use a rate of one to two percent of the original purchase price of the storage bin. Taxes can be figured by multiplying the local property tax rate times the assessed building value. The lease agreement should clearly state who is responsible for managing the grain so as to minimize spoilage and other damage. Bin Halo Lifting Slings are 2" inches wide and made with high quality materials. A Decision Tool (electronic spreadsheet) is available to help estimate ownership for both grain bins and drying equipment (see Decision Tool C2-24). In some cases grain storage rental is available from a commercial source (elevator) at an established price.
Depreciation is the portion of the original cost of the grain bin that is counted as an expense each year. Management of grain. However, in some cases it may be more convenient for the owner of the bin to check the grain and turn fans on or off. The most significant ownership costs are: - depreciation. Repairs are needed to maintain the bin in a usable condition.
For drying and handling equipment use 3 to 5 percent of the original purchase price. Serving Central Kansas including Grand Island NE, Kearney NE, North Platte NE, Hastings NE, Paxton NE, Gothenburg NE, Maywood NE, Holdrege NE, Lexington NE, Wood River NE and surrounding communities with all your equipment & tool rentals, new equipment sales, contractor supplies, and parts & repair services. Bin Halo Connecting Shackles are made with heavy gauge steel and baked on paint. Rent can be charged for the entire year or for each month the grain is in storage. A common method is to charge a rental rate similar to what others are charging. So farm storage rates can be based on commercial rates minus an appropriate discount. Estimating a fair rental value for farm grain storage can be based on: - current market rates.
Remember, the fixed location of buildings often narrows the market to only a few prospective renters. For example, a bin costing $65, 000 initially, repair costs could be estimated at $650 per year ($65, 000 x 1. Return on Investment. We will bring the jacks to you along with a highly experienced member of our team who will be responsible for ensuring the jacks perform at the best level possible to suit your needs.
Computing a Grain Storage Rental Rate. A typical rate is an initial charge of 9 to 16 cents per bushel for the first 3 months of storage and an additional charge of from 2 to 4 cents per bushel for each additional month. The same rate is paid if the bin is used for one month, twelve months, or not at all. It is suggested that the grain must be removed from the storage facility by Sept. 1. A suggested rental charge for farm corn storage is about two-thirds to three-fourths of the local rate for commercial storage. In the case of a drying bin, separate charges can be made for each bushel dried and each bushel stored. For example, the first year the bin is worth $65, 000, but each year thereafter the value declines due to depreciation. Have questions or looking for something not listed on the website? The farm storage rate is estimated to range from 10 cents (15 x 2 / 3 = 10) to 21 cents (28x 3 / 4 = 21). Rent per year or per month.
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