While many professional contractors are under the impression that they have to lay out a bunch of cash for equipment, others make the most of rental services. Construction equipment rentals make it easy for contractors to access high-quality equipment at a fraction of the cost. Still not totally convinced? Here are some of the top advantages to renting equipment rather than buying:
Low initial investment
If you are renting equipment, you won’t need to fork out a large sum of cash upfront. It’s much like buying a car versus renting one. If you rent a car for a week, it will cost you significantly less than buying one. This is particularly significant if you aren’t planning on using a particular item for every job.
If you don’t own the equipment, you will not be responsible for maintenance. Any form of construction equipment requires servicing and maintenance from time to time. There’s no point in incurring this expense unnecessarily.
Not all construction jobs require the same equipment. You might require a certain piece of machinery for one task while another job will require some very different tools. Buying all the equipment you could possibly need will set you back a substantial amount, and you won’t need all of your equipment for every job. All the more reason not to buy something you’re not likely to use regularly. Your equipment needs to earn its keep in order to prove financially viable. You can use whatever you need for as long as you need which helps you control your budget.
Rent the best
Although you might not have the means to buy the very best equipment on the market, you will most likely be able to afford to rent the best. This means that you can enjoy using the best without that massive cost. Rental companies often stock the latest models available, so you get to use new equipment every time rather than using the same equipment for years to come. Top of the range equipment carries a higher price tag for a reason. They offer more features, a higher quality of work, and they can also be more efficient.
No fleet control
Not owning your own fleet means that you won’t need to worry about fleet control or insurance. Your own sure cost will be the rental and fuel. Apart from this, you won’t be liable to pay for things like insurance every month of every year. All of these matters are taken care of by the rental company at no cost or inconvenience to you.
The costs are only justifiable if renting becomes more expensive than buying. For example, if you plan on renting certain equipment for a long period of time, you might be better of buying it. The key is to calculate the initial cost along with insurance and maintenance. Then compare this figure to the amount it will cost you to rent for a certain period of time. Consider whether you plan on using this particular piece of equipment on a monthly basis or only once or twice a year. How long will it take before the rental cost exceeds that of the full purchase price?
With all of these benefits in mind, it’s no wonder both experienced and new construction companies choose to rent equipment from TCS Construction. Call our team today at (905) 76109330 to find out more about our equipment and other professional services.