Owning a construction business means there are a lot of expenses, many of which are unexpected. One of the most costly expenses among construction companies is equipment. Whether you have recently started construction or you’ve had equipment break down recently, there is good news. Instead of racking up your credit cards, there is another option, construction equipment rental. There are a number of reasons why renting construction equipment has grown in popularity, such as the rising cost of buying equipment in an unpredictable market; a market that has forced construction companies to find ways to save costs whenever possible.
Here are just a few of the benefits you can expect when renting construction equipment.
Manageable Repair and Maintenance Costs
Owning equipment means that you are responsible for the maintenance, upkeep, and repairs on all of the construction equipment that you own. However, if you utilize construction equipment rentals, the rental company is responsible for repairs and replacements for damaged equipment. While renting, you are still responsible for ensuring the equipment is properly used and gets the minor maintenance that is necessary for construction, such as adding fluids, but you are not responsible for any of the major maintenance.
Short Term Need
Construction companies are notorious for having several projects going at the same time but in many different locations. Rather than limiting the time equipment can be used on one job site in order for it to be transferred to another site, which is not only frustrating but frequently transporting equipment back and forth between job sites is time-consuming and expensive. Rather than go through this hassle, you can rent the construction equipment you’ll need for specific projects. Construction equipment rental is also a great choice when you are doing a project that requires a specific piece of equipment that you don’t have. Instead of buying expensive equipment to use 1-2 days, you can rent the equipment and return it when you’re done.
No Need for Storage
Construction equipment is generally large and difficult to store when not in use and if it isn’t stored properly, the equipment can get damaged and depreciate much quicker. Also, if you don’t own a building large enough to store all of your equipment, there will be additional costs to rent a storage space. When renting construction equipment, you simply contact the rental company and make arrangements for delivery and pickup of the equipment, which means you do not have to worry about picking the machinery up or finding a place to store it when not in use. The rental company is responsible for storage.
Buying brand new construction equipment is extremely expensive and can have put a significant dent in your budget, especially if you are just starting out or you need to replace damaged equipment unexpectedly. Also, buying construction equipment is a long-term investment that commits you to specific pieces of equipment. Construction equipment rental helps you to avoid the upfront costs that are associated with buying and it allows you to better allocate your financial resources.