How do I Lease an ATM?

If you are looking to earn extra money, running an automated teller machine (ATM) is a popular way to start. If you lease an ATM, you essentially are renting the machine and keeping the profit for yourself. In order to begin the leasing process, there are four steps you must take. Find companies that provide ATMs, shop around for different rental plans, fill out the appropriate paperwork and prepare a place to situate the money machine.

If you want to lease an ATM machine, your first step is to locate an ATM rental or sales company. The number and proximity of these operations depends greatly on the size of your community. Larger cities tend to offer more options for leasing. A simple online search or looking in the phone book will reveal your choices.

If you are fortunate enough to have several options to lease an ATM machine, it is important to talk to each sales representative and take notes. Every organization has its own lease agreements, and it is important to find the options that best fit your situation. The most important question to ask is what the monthly lease fee is for a personal ATM. Other issues that you need to consider are whether you can set the ATM fee yourself, whether you have to provide your own money or whether the company loans it, as well as who is responsible for ATM repair costs.

After you have found a leasing company that meets your criteria, you will need to get a great deal of information together to fill out the lease paperwork. The forms ask standard questions about your name, address and contact information as well as more in-depth questions. In order to lease an ATM, many forms will require your bank account information. Also, you will have to list information about your business, such as whether it is a partnership. If so, you will need those partners to sign off on this project.

When the paperwork is filed, it is important to arrange for a place to put it, because you cannot have an ATM without proper square footage and access to electrical outlets. If you lease an ATM, you need to think of these logistical problems beforehand. Failure to plan properly could mean that the rental company takes back its property because you have no space for it.