In every line of work, working with the right equipment is of huge importance. Well, the same goes for construction. Every contractor will tell you that if you don’t have the proper equipment, you won’t be able to execute anything normally.
But what are you going to do if you do not own every single piece of equipment that’s necessary? In these types of situations, a lot of contractors turn to construction equipment rental because that’s a relatively practical solution.
Not only is it practical, but cost-effective too. If you’ve never done it before, yet you could use some useful information when it comes to this, then don’t go anywhere because we’re about to tell you everything that’s related to it.
The Benefits Of Renting Construction Equipment
Even though there are people who work in this industry who would rather have their own equipment, the truth is, a vast majority of them would still gladly rent it. What’s interesting is the fact that over 90% of contractors have done it last year.
And according to some experts, it is expected that more of them will join this group of people this year and in the upcoming years, which just goes to show how convenient this option is to a lot of people.
And that’s because there are lots of benefits of construction equipment rental and below, we will discuss some.
You Will Save A Bunch Of Cash
As we previously stated, renting any piece of equipment (at least as far as the construction industry is concerned) is much more cost-effective than obtaining it. For example, acquiring a digger is a huge cost for a lot of business owners, particularly the ones who run a small business, which is why renting a digger is by far more affordable. The same goes for other equipment.
Those who decide to rent will most definitely skimp on costs, and at the same time, avoid the instant asset depreciation that occurs as soon as you decide to remove it from the lot. By doing so, you’ll have a lot more cash at your disposal, meaning that you’ll get the chance to invest in other essentials that are crucial for your company’s growth.
Although it is true that brand-new equipment is a fixed cost, but, at the end of the day, it’s still a huge investment that can be a huge burden for those who are currently tight on the budget. On the other hand, these days, you can easily rent new equipment without breaking the bank, which is a great option until you save up some money to buy it.
Let’s Not Forget To Discuss The Storage
Those who have the equipment in their possession will tell you that it takes up a lot of space, which can be a huge issue for people who do not have massive storage. And then if you decide to expand it, you’ll be obligated to spend a substantial amount of cash for these purposes, due to the fact that storage solutions are very pricey.
That’s why, it’s much better to rent the equipment, especially since you won’t be using it too frequently. If you decide to rent it, instead of buying it, then you won’t need to stress over finding reasonably priced storage.
Not to mention the fact that you’ll also have to spend money on moving your equipment to storage, which can also be a huge expense.
It’s Much More Flexible To Rent It
Those who decide to purchase construction equipment have a lot fewer options in terms of price and models, meaning that they can opt for only things that are part of the dealer’s selection of products.
On the flip side, that’s not the case when you’re renting it. How come? Well, that’s because you can always compare equipment from several suppliers, along with the rate from a few rental companies.
And that just leads us to conclude that you are way more flexible if you opt for construction equipment rental because you can choose from a wide variety of equipment models, rates, and compatible attachments.
How To Properly Rent Construction Equipment?
Now that it’s been concluded that renting construction equipment comes with various advantages, it’s time to provide you with some tips that are going to help you do it the right way. These tips will definitely come in handy to those who have little to no experience when it comes to this.
- You need to know exactly what you need – Just like with any other type of purchase (in this case rental), you first need to figure out exactly what you need before you take any further steps. This is the best way to get the most out of your equipment, and above everything, you’ll significantly decrease your chances of making a return or exchange. Now, if you’re not sure what you need, you can always consult the professionals who work at the rental facility to see what they’ll have to say.
- Set aside the amount of money you’re allowed to spend – Even though we established the fact that renting construction equipment is affordable, don’t forget that, after all, it’s still an expense. Therefore, it would be advisable to set aside the amount of money that you’re comfortable with, that’s not going to blow your budget. By doing so, you’ll be able to determine how much you can spend on the equipment and how much you can spend on various services.
- Make sure to do your research – There are a lot of construction rental companies, but the truth is, not all of them are professional and trustworthy enough. And if you do not want to waste your money and time on fishy ones, then we would recommend you conduct detailed research to see which rental companies, nearby, are the most reliable. Be sure to consider the ones that have a great offering (in terms of equipment) and lots of positive customer reviews.
The main reason why we decided to create this guide is to show all the positive sides of construction equipment rental and because it’s of huge importance to stay informed if you want to make the right choice.