Construction equipment rentals are on the rise. With rising costs of purchasing construction equipment, an unpredictable market with many hazards for businesses owners to consider, and a variety of benefits that come along with renting such as flexibility in size and type without debt or long-term commitment – it’s no wonder why more companies are considering this option!
Renting provides your company the ability to cut down on expenses while still running a financially stable business by choosing from larger pieces like excavators or smaller tools like drills depending upon what you need at any given time. However there may be some things worth noting before deciding if renting would work for your needs.
- Avoid Initial Purchase Cost: Renting or leasing construction equipment rather than purchasing is the best option for all industries. Running a business comes with huge upfront costs, and you need to be able to allocate your resources in various ways—not just one way by investing everything into new machines. Renting allows businesses the opportunity to invest more of their money elsewhere, without being tied down long-term like they would if they bought something brand new that could become obsolete before it was even paid off.
Purchasing brand new construction equipment can have an overwhelming impact on company budgets because there are so many companies fighting over these expensive pieces of machinery nowadays; moreover, buying this type of machine locks owners into particular models which limits versatility when looking towards future needs.
- Less Maintenance Expenses: Buying brand new construction equipment is a huge investment and can get you tied down to a single machine. Renting or leasing this equipment gives businesses the flexibility they need for their long term financial goals while also saving money up front. With rentals, the time and labor costs associated with maintenance and repairs are lower than owning a piece of equipment. Rather than worrying about maintaining an item for its entire life-cycle, leasing removes this extra stress from your already busy schedule. Equipment rentals allow you to focus on what’s in front of you rather than taking the time out to plan long-term maintenance plans that may never come into play!
- Safeguarding From Market Change: The construction sector is highly unpredictable. Many factors can affect the market, such as rising or sinking costs of equipment and available jobs. Renting offers a more flexible way to handle these fluctuations in an uncertain economy-rather than committing with one piece of machinery for years at a time that may not be entirely necessary when it comes down to finances.
- No Devaluation Expenses: Equipment depreciation is a major concern for business owners. It’s not just the initial purchase price that needs to be considered, but also resale value and maintenance costs once equipment has been purchased. However, thanks to modern technology it may make more sense financially in some situations to rent instead of buy construction machinery which can cost hundreds of thousands of dollars each year if they are owned outright by companies who use them heavily enough throughout their operations cycle.
- Project-Specific Rentals: A construction company is typically juggling many projects at once. Rather than incurring the additional cost and delay of transferring equipment among multiple jobsites, consider renting specific pieces for individual jobs to eliminate any logistical delays that may come up in both moving it around and getting each job done on time with all its necessary resources available.
- Stop Equipment Storage Issues: With owning equipment, companies need to make sure that they have the storage solutions in place for when their equipment is not being used. If your company does this carelessly or exposes it to harsh weather conditions, then you might end up with depreciating assets and added costs of warehouse space as well. If you are tired of paying high rates for machinery and space, then leasing is the way to go. It eliminates your worries about both while still providing all the benefits that ownership would bring.
- Transportation Logistics: Waiting for machines slows down progress as many pieces are needed at once to maximize efficiency during each stage in a construction process. Renting equipment is a great way to avoid transportation difficulties and decrease the length of your project by avoiding delays.
If you need construction equipment rentals in the Tampa Bay area, Call Rentalex at (813)971-9990. Our rental representatives can help find the right tools for your company’s needs and make sure they’re delivered to you on time so that you don’t have any delays with your project timeline!