A crane rental company has released an update on its rental policy, which has raised concerns among crane enthusiasts that the rental company is selling the crane out to investors.
The crane rental site craneBird.com has been updated to remove a clause that allows the company to make any payment at any time, which includes interest and rent.
The updated policy says that any interest received will be deposited into the company’s bank account, and that the company will use the money to help pay down the loan on the crane.
“Any payment made for rent or interest is to be used solely for rent and interest payments and not for any other purpose, except as otherwise provided by the contract,” the updated policy states.
Cargo crane operators in Georgia, Indiana, Ohio, Pennsylvania, Florida, Wisconsin and the District of Columbia have all raised concerns about the new policy, saying that they are being sold out to high-profile investors who are willing to take out large sums of money.
CrowdfundRent.com recently launched a new campaign that seeks to raise $3 million to purchase the crane rental business in Florida.