Construction Equipment Rental
Tips on tool and heavy equipment rental
Professional construction equipment and heavy equipment is extremely expensive to buy. Only well-established companies with deep asset pools can afford to lay out the kind of cash it takes to finance heavy equipment purchases. Thus, many contractors and construction companies opt to pursue construction equipment rentals instead. This approach helps control costs while avoiding logistical difficulties.
Advantages and Disadvantages of Tool and Equipment Rental
Heavy equipment rental is an extremely practical option for newer or smaller companies, or for construction companies and contractors with limited cash flow. It gives you a lot of flexibility when you're planning new jobs and securing new business – you won't be limited in the type of work you can take on by the equipment you do and do not have. You can give more competitive, accurate quotes to prospective clients because commercial equipment leasing delivers cost certainty. Industrial equipment leasing also solves a major practical challenge: storage. Heavy equipment is large and, given its resale value, is a common target for thieves. An industrial equipment rental liberates you from these concerns.
However, if your company can afford it and you have secure indoor storage space, purchasing heavy equipment adds a lot of value to your business. Many construction companies buy commonly used pieces of equipment, then rent the items they have only an occasional need for. To determine whether or not this is right for your business, you'll have to sit down and crunch the numbers.
Commonly Rented Items of Construction Equipment
There are some items that are more commonplace to rent than others. A scaffolding rental, for instance, often makes the most sense because scaffolding setups need to be of different sizes and configurations for every job. Instead of guessing what type of scaffolding set you'd get the best use out of, you can simply lease them on an as-needed basis.
Getting an excavator rental is also common. Because excavators are typically only needed for a relatively brief period of time at the beginning of a job, it is usually more cost-effective to rent them on a daily or weekly basis. The price of a new excavator is typically six figures, so renting or leasing one is an easy way to overcome the practical challenge of financing an expensive piece of equipment you only occasionally need to use.
You can also rent hand tools, power tools and small equipment like ladders, spray guns and air compressors for affordable rates. Construction equipment rentals are available to meet needs large and small, short term and long, all while helping to keep your company cash flow at a healthy level.