Posted by Tim Cary on January 17, 2002 at 10:13:21:
In Reply to: Rent to Own Tuba? Or Not? posted by Max Mearse on January 16, 2002 at 17:10:54:
I would not recommend renting personal instruments or property of any type. As the other posters have explained, this simply presents too many problems. Businesses (music stores) who have rental or rent-to-own plans have the proper legal contractual things for rentals, as well as business insurance. The rental price also covers for damage and shrinkage (loss).
When I sold my 186 I had similar offers. A gifted but poor student of some teacher really needed a nice horn, but couldn't afford it. Offers of rental (one was $20 a month) were offered as were offers well below (as in 75% below) my asking price. While these students may have been deserving, I as an individual am not in the business of supporting someone elses education or musical ventures. Selfish I know, but with the price of instruments, especially tubas, I simply can afford the risk.
Recently I was contacted by someone who wanted to rent a tuba. Our band owns a YBB-321 that no one wants to play, and is sitting in storage at the school where we rehearse. I talked to our board, and we offered the horn on a contractual basis of $40 per month, a $250 refundable security deposit, plus proof of a rider on a homeowners' or renters' insurance policy. The deal fell through as he couldn't come up with the $250 and had no renters insurance (he lived in apartment). The risk of our band loaning an instrument to a non-member simply wasn't worth it.
P.S.: Not holding a renters policy, whether or not you have an expensive instrument, is NOT a good idea...