FELICITY ASSET RENTAL
FELICITY ASSET RENTALS
FELICITY Asset Rentals is the smart way to upgrade your Smart-City Infrastructure
- No Capital Outlay
- Lower total monthly OpEx from day one
- Electricity and CO2 reduction by up to 76%
- Option of Smart-City Technology Upgrade at NIL cost to existing OpEx
- Options to upgrade your Smart-City Technology every 5 years
- Guaranteed buy-back of all Hardware
Capital Expenditure is often the key impediment to a client achieving ongoing OpEx savings, taking environmental initiatives, or being able to access other efficiencies through Smart-City technology.
Felicity Asset Rentals facilitates Councils’ and Road’s Authority LED Streetlight and IoT upgrades where Capital Expenditure is limited or required for other purposes.
Felicity Asset Rentals buys the required hardware and rents this to the client on a monthly basis.
The monthly rental costs are offset by savings in Electricity and Maintenance costs so the net impact on Operational Expenditure is favourable.
From day-one, Smart-City technology upgrades are also able to be built into Felicity’s LED Streetlights, potentially at no additional cost to a Councils’ existing monthly OpEx spend.
Every five years, Councils are able to upgrade their Smart-City technology capabilities with potentially no material impact on their existing monthly OpEx spend.
This allows Councils to continually upgrade their Smart-City Infrastructure as their needs emerge, their citizen’s needs are identified or as technologies evolve to provide operational efficiencies.
No Cap-Ex Budget? No worries!
FELICITY Asset Rentals - How it works in practice
Equipment Rental Agreements are used by Local and State Government bodies every day to rent assets such as office Printers, Computers, Generators, Road barricades and even Roadway signs. Equipment rentals remain an efficient way of managing spend and ensuring asset redundancy and upgrades do not become a long-term burden on the community and its governing bodies.
Felicity Asset Rentals’ Rental Agreement is standard within the industry, does not include anything unnecessarily onerous of the Client, and incorporates the following key terms -
- A contracted end date, five years from installation date.
- Fixed monthly payments by direct debit over the contract term.
- No requirement for director guarantees or security other than the rented Asset itself.
- Equipment to remain at an identified location and be insured for the rental term.
- Equipment must be maintained, serviced and kept in good working order.
- The Client assumes all risks and liabilities in relation to the equipment.
- Asset security registrations (PPSR) released on completion of the rental contract.
- Felicity Smart Infrastructure provides Council with a first right to buy the equipment for a nominal fee at the end of the rental term.
- Events of default do not include anything outside of market standard.
FELICITY Asset Rentals - Who is behind the business
Felicity Asset Rentals’ Executive team brings together over 80 years’ experience in leasing and commercial finance, having provided some of the country’s largest Equipment Rental programs since the mid-1990’s. Equipment Rental Programs for products by Apple, Dell, Toshiba, and others.
Executive Chairman Robert Spano is an Asset industry pioneer with over 35 years’ experience in Asset Equipment Rentals. Prior to heading up Felicity Asset Rentals, Robert was CEO of Alleasing, the largest private leasing company in Australia with $1.4b in receivables including over $800m Equipment Rentals provided to local, state, and federal governments.
Robert also has extensive experience working with Department of Foreign Affairs, various State Departments of Health, Federal Department of Defence, various State Departments of Education, Treasury, and numerous Councils around the country.
Felicity Asset Rentals’ team and operational platform are derived from Alleasing operations, with Tom Kellaway as CEO and Harry Gillam as Senior Account Manager providing the first point of contact.