12/12/2023
Let’s talk about escrows…
When we started this company 5+ years ago, we strongly opposed the idea of requiring escrows from our drivers. I remember sitting in a seminar and listening to a panel of drivers absolutely adamant that they would never sign a lease with an owner that require an escrow. They were offended by the idea of funds being held - it automatically meant that the owner didn’t trust them to use and care for the truck. We could definitely see that point of view and were all about respecting it.
That being said, after having several new and newer trucks turned in LIKE THIS, it wasn’t hard to change our minds about requiring an escrow for every driver. THIS is going to cost us a MINIMUM of $500 just to clean/clean out. Plus the cost to repair the damages that of course were not there before the driver got in and were not reported while the driver was using the truck.
We now have all of our drivers sign a contract that includes a clause about withholding an escrow. Those funds held in escrow are used to insure a driver’s compliance with the terms of the contract and can be used by us, the owners, to cover expenses that, under the contract, should be covered by the driver or at the end of contract, to retrieve the truck and/or restore it to the condition in which the driver originally received the truck. If anything needs to be deducted from their escrow, we let them know and provide a balance. We have always operated our business with full transparency - a driver can ask for their escrow details at any point during their time with us. At the end of the contract, the escrow (minus any deductions) is always returned to the driver within 45 days. We think that is fair.
So to sum this all up, if we hadn’t withheld an escrow, we would be out about $1000 because of a driver who chose to live like a pig, damage our property, and was too lazy to clean up after himself when it was time for him to move. And this was just one turn-in. We typically have 3-4 of these per year.
To our current drivers, you had better not be living like this. If you are, this is your warning to CLEAN THAT
$ #!+ UP! Please. To any potential drivers, if you live like this and are looking for a job, keep scrolling. We are not a good match.
