Running a construction site means paying attention to many moving parts. Often, management decides to rent heavy equipment rather than purchase it. Discover seven intelligent reasons to rent construction equipment for that next project.
Access to Cutting-Edge Technology
One of the most significant advantages contractors enjoy, when they rent heavy construction equipment, is gaining instant access to cutting-edge technology. In addition, the company can take on projects requiring specific equipment without making a considerable investment. As a result, the business can take advantage of a broader range of construction contract opportunities.
Service and Support
When you rent heavy equipment, full service and support are provided every step. Instead of worrying about warranties or covering repair fees, the rental company ensures the equipment is always in good operating condition.
Training Opportunities
Access to quality heavy construction equipment is only half the equation. The other half is knowing your employees understand how to use the machinery correctly. Often, rental companies provide training opportunities to maximize the equipment’s potential and make the best use of the time you have the equipment.
No Capital Investment Required
Purchasing heavy construction equipment often requires a significant capital investment and financing. However, your company can get the same equipment for less by renting what you need for each project. Plus, the business can take on various jobs because workers will have suitable machines to tackle anything the company decides to take on.
Buying Power with No Depreciation
When you purchase heavy construction equipment, you will own it and be responsible for repairs. While equipment is an asset, the value depreciates with time and continued use. When renting equipment, you get more buying power with no depreciation, which helps to boost the bottom line.
No Need for Storage Facilities
Storage costs are increasing every year and become a significant expense for construction companies. When you own heavy equipment, it must be stored for weeks or months when not in use. That means the company has to pay for storing equipment it is not using. Renting the equipment means there is no need for storage facilities and costs when the machines are not in use.
Try Equipment Before Buying It
One of the greatest benefits of renting heavy construction equipment is the opportunity to try it before deciding to buy it. Purchasing heavy construction equipment is a significant investment that requires research and budgeting. When renting the machines, contractors (and their employees) can see if they perform as expected and find out if they are easy for workers to operate. Also, trying the equipment first teaches contractors how best to use it for profitable projects.
Renting construction equipment is often the wisest business choice when taking on the best projects without having go make a significant investment. Now, your company can bid for various projects because you can access the latest technology to perform the work. Plus, you will have the service and training required to ensure everyone knows how to use the machines and do the job right. That helps to build your future success.
