5 Reasons Why You Should Rent Construction Equipment
When venturing into a construction project, you need tools and heavy equipment to get the job done efficiently and right on schedule. In procuring machinery, you have two options: invest or look for companies that offer equipment for rent.
Over the years, equipment rental has become more popular because of the rising cost of purchasing heavy machinery and the maintenance expenses that come with it. These factors have led construction companies to switch to rentals, which allow them to cut spending without compromising the quality of the project.
Heavy equipment rentals offer many significant advantages for your business. Here are five reasons why you should rent construction equipment instead of owning one:
Latest and Well-Maintained Equipment Are Available
Equipment rental companies offer the most up-to-date models and technology in their fleet. They regularly inspect and keep these units in good condition to provide quality service for their clients. Once a piece of construction equipment has been used for a long time, it is taken out of circulation and replaced with a new one.
Some heavy machinery can do specialized and specific tasks. They provide more efficiency by finishing the job in lesser time. More often than not, these are available in the inventory of equipment rental companies. Renting allows you to select specific models that match your requirements instead of settling down with what your business can own.
Avoid Storage Costs
When they are not in use, construction equipment must be stored properly to preserve their quality and performance. Companies must think of storage solutions that will not expose the units to harsh weather conditions, such as direct sunlight, rain, and wind. Also, heavy machinery must be kept in a well-ventilated space to avoid degradation.
Warehouse fees are an additional expense for the business, and they can be costly, especially if you have a large fleet of machinery. With equipment rental, you avoid long-term storage costs since you only need the unit for a certain period.
Eliminate Transportation and Logistics Issues
Moving equipment from storage to site can take a lot of time. This is detrimental, especially if you’re working on multiple construction projects, and you need to transport the equipment from one location to another. The waiting time can significantly affect the productivity and schedule of the project.
Renting heavy construction machinery can save you from worrying about these problems. Take advantage of the transportation services of equipment rental companies. You can ask them to deliver your desired units to the project site when you need them.
Lesser Maintenance and Repair Expenses
Heavy equipment must be well-maintained, serviced, and regularly inspected to ensure a safe and fault-free operation. This includes checking the fluids and hydraulics, looking for broken parts and replacing them, upgrading the technology, examining if there are leaks, and more. These maintenance procedures are needed to extend the lifespan of the unit, and they can be costly.
If you rent equipment, you don’t need to worry about long-term maintenance plans and expenses. It is the responsibility of the rental company to ensure their fleet is working in top condition. This includes the service, repair, and maintenance of the construction equipment for rent. It’s why renting can keep you away from stress and save you a lot of money.
Avoid the Initial Purchase and Depreciation Costs
When you buy brand new construction equipment, it will take a huge chunk from your project or business budget. Since it is a capital investment, your money will be tied to the purchase until you sell it. With equipment rental, you can allocate this huge investment money to more important matters in your business.
In addition to that, purchasing equipment comes with depreciation costs. The value of the unit will decrease after several years. Now, add the upfront cost to the maintenance, service, and storage expenses needed to preserve its quality, and you’ll realize it will be hard to get back your initial investment.
When the time to sell the machinery comes, sale offers can be lower than expected because there are newer and better models. Your equipment may be outdated and less efficient than those available in the market.
Be Smart in Making Your Decision
Even though equipment rental provides many benefits and major advantages for your construction project, it’s still important to consider other options. Sometimes, investing and ownership can be the right choice, especially if you utilize the machinery for more than just one project.
So, ask yourself the following question before making a decision:
- What are the kinds of construction equipment you need?
- How long and how often will you need the heavy machinery?
- How much money will you need to spend? How will the expenses affect the business?
- What are the logistics issues involved?
It’s important to take your time when coming up with a decision. Weigh your options and consider different factors. Be smart, and your construction project will surely be a success!