THE BENEFITS OF RENTING EQUIPMENT Stop paying for your equipment
if your construction project needs specific equipment for a short duration, because after the project that equipment is going to stand idly afterward. Let the rental company worry about finding other users.
. Get up-to-date technology
. The rental market is competitive and we offer recent-generation machines that get jobs done faster and more efficiently. Up-to-date equipment usually also means compliance with emissions regulations.
. Avoid maintenance costs.
If you buy the equipment you have to worry about regular maintenance through out the entire year.
. Stop storage costs.
Construction equipment can only take so much idle time outside. Storage facilities to keep bigger pieces of equipment tucked away when they are out of use can be a major capital expense in themselves. But this is another worry you can simply hand off to the rental company.
. Save on transport costs.
Your costs to move your machines could make a sizable dent in your profitability. It may be smarter to rent the construction equipment you need from a rental company local to your project site and wave goodbye to transport costs.
. Pursue new opportunities.
Some projects require specialized equipment if they are to be done correctly and efficiently. Buying the equipment may not be economically viable. On the other hand, rental can let you expand your project horizons while staying profitable.
. Cut opportunity costs
. If you buy instead of renting, you tie up capital that is then no longer available for other projects. That can cost you opportunities you would have liked to pursue. You can keep your options open by renting instead of buying.
. Make direct tax deductions.
Rental costs are often immediately deductible as business expenses. Purchases of construction equipment on the other hand often need to be depreciated over the lifetime of the equipment.
. Improve your balance sheet.
This is another one to make bean-counters happy! Your finance department will appreciate the fact that rental expenses are not considered to be a balance sheet liability. Among other things, you preserve more of your company’s borrowing power.