New Contractors: Don't Be Afraid to Rent Equipment

Renting Heavy Construction Equipment Can Save You Money In Multiple Ways

by Ian Howard

Does your firm need to replace some existing heavy construction equipment, or are you buying this type of equipment for the first time? While there may be benefits to owning certain heavy equipment that you use at every single job, there are special benefits to deciding to seek out heavy construction equipment for rent. Here's why you might want to go in this direction when it's time to acquire the equipment that you need for your next job.

You Won't Lose Valuable Time on Maintenance Tasks or Have to Deal with Repair Costs

When you own your own equipment, you are responsible for its upkeep and any repairs that come up. Regular maintenance will delay the start of some of your work days or interrupt you halfway through. Your employees will have to stop using the equipment to actually get the job done and shift over to making sure the equipment is fine-tuned and operating efficiently. If you do notice a problem, you will then also be responsible for the cost of any repairs, including the additional labor hours or overtime you might have to pay to the employee that fixes it. Rented equipment comes already fine-tuned and ready for action, and if something breaks down, the rental company will handle it for you.

Minimizing Your Fleet of Heavy Equipment Can Help You Reduce Your Long-Term Transportation and Storage Costs

If you have a large collection of heavy equipment including some which are on wheels, you might have to pay money every time you want to transport or move the equipment from one area to another, or you at the very least will have to pay storage costs for any equipment that is not currently in use during your most recent project. Minimizing your fleet or other heavy equipment can help you cut back on both of these costs. When you are done using the equipment, the rental company will come pick it up and take it away until you are ready for it to be delivered again to the next job site.

You Won't Have to Carry Insurance on the Equipment Because the Rental Company Will Likely Have It Covered Within Reason

Depending on what type of heavy equipment it is and how much it costs you, you might even consider taking out additional business insurance on just this one piece of equipment. With rented equipment, that's just not necessary. The rental company will have it covered or they may give you the option to pay an additional fee for insurance on the rental unit while it is in your possession, and this will likely be much more affordable than having to add more business insurance to your own expense report.