by Homerun Nievera, World Executives Digest.com |
Renting construction equipment has never been as popular as it is today. Regardless if you are a big or small company, buying completely new equipment is not that great of an idea. Even though you get to keep it and reuse it forever, owning construction equipment has a lot of hidden expenses that most people overlook. If you’ve ever wondered what the advantages of renting equipment over buying it are, stay with us and we will point out the biggest ones.
No storage expenses
When not used construction equipment needs to be stored somewhere and that can take a big chunk from your budget. It is not only storing the equipment, but you will also need to find a suitable storage unit, transport the equipment and make sure it is well-protected so it doesn’t get stolen. Some people will say that construction equipment is durable and it can stay outside, but unfortunately, some parts of the machines are not immune to the elements, so storing them inside will be your safest option.
With rentals, you won’t have to worry about this. The owner will bring them to your construction site and they will take them back once you’re finished, giving you one less thing to worry about.
Zero maintenance costs
The second advantage is that you won’t have to deal with the maintenance of the equipment. Every piece of machinery requires regular maintenance and checkups. Depending on how well you take care of your equipment this can be a small or a big expense. People who properly take care of their equipment will have little to no expense for maintenance, but if your machine has suffered some damage this can turn into a money sinkhole, with repair expenses piling up on top of each other.
Renting equipment eliminates all these risks. Maintenance will not be your problem and you will get perfectly tuned machinery that won’t die in the middle of the project.
If the market struggles you won’t feel a thing
The market fluctuates all the time. One day construction business is on the rise and the next day it can go downhill. Because the construction industry is affected by a lot of external factors, renting equipment and machinery might be the right thing to do. In case the market is down you can always return the equipment and avoid losing tons of money or if the market is thriving you can rent additional equipment so you can meet the demand.
You won’t have to worry about using dated equipment
The biggest problem in any industry is keeping up with the constant advancements in technology. Equipment, machinery, and tools are upgraded on a yearly basis and always having newest models can be difficult, especially for smaller businesses.
For example, today’s elevated work platform (EWP) or any other piece of machinery can become dated in just a couple of months. When buying a new one is not an option, consider renting the equipment. Excavator, bulldozer, and scissor lift hire has reached an all-time high. Rental companies are always offering the newest models, making them a far better option than buying new models every couple of years.
And that brings us to the end. As you can see renting equipment for your construction project is much easier than having to deal with storage expenses, maintenance costs, upgrades, etc. Today, rental companies offer great services. You will get the finest piece of equipment without any trace of wear and tear.
Homerun Nievera is the publisher of WorldExecutivesDigest.com. He has interests in several tech and digital businesses as director and chief strategist.