In the construction industry, renting expensive and heavy equipment/machinery is common for many smaller businesses that require specific equipment for a short duration of time. This is because there are various different benefits when it comes to renting these types of construction machinery. A variety of different equipment are available for rent such as crawler cranes, mobile cranes, rough terrain cranes, low loaders, 40-foot trailers, and more. Here are some of the benefits of renting:
Only pay for the equipment when it is required
Oftentimes a construction project or site needs very specific equipment but only for a short duration. Typically, a construction company would have a number of different projects at any one time hence, it’s almost always more efficient to rent than to purchase so that all the equipment wouldn’t be sitting idly after the project finishes. Not to mention storing this new large equipment would require some costs too. However, if it’s a common machinery like a mobile crane or crawler crane which are used very often at almost every construction site then purchasing it would be more cost-friendly. Also, renting equipment allows you to expand your project horizons while staying profitable.
Get up-to-date equipment
Considering how competitive the rental market is, it is important that rental businesses are always updating their equipment and machinery to the latest technology that helps get the job done safer, faster, and more efficiently. So when you rent the equipment, it is a lot easier to just rent the latest-generation equipment compared to purchasing these equipment.
Maintenance and repair costs are less
When you own a lot of different construction equipment, the maintenance and repair costs will start to add up to a hefty and considerable amount. Although most rental companies do charge maintenance and repair costs too, it is always significantly lower compared to purchased equipment. Maintenance costs can’t be ignored considering how important it is to keep these heavy machinery operating at an efficient level as well as to maintain utmost safety in the construction site. With rentals, you don’t have to constantly worry and keep track of the repairs or maintenance of your equipment.
Reduce transportation costs
Imagine if your equipment or heavy machinery is in West Malaysia but the newest project you received is going to be at East Malaysia. How would you transport all the required equipment to the construction site? What will it cost? That’s why it is easier and more cost effective to rent the equipment from a local company instead. Not to mention transportation may take a very long time which could affect the productivity and efficiency of a project. Moreover, time spent waiting for all the equipment to arrive can cause delays to the project which also means more costs.
Avoid the initial purchase cost
Purchasing new construction machinery and equipment can be extremely costly and make a huge impact on your company’s budget as well. Commonly, these machines are not a one-off purchase due to the cost and it is a long term investment that may tie you down from purchasing other equipment items. Renting really frees up your budget for other uses that your company may need.
Renting equipment really does make it easier for companies especially for smaller businesses. However, if you are planning on purchasing these equipment for yourself because it is often used by your company like a crane, then you should consider purchasing them on sale. For rent purposes, partner with a company with established know-how and experience for most efficiency and safety of your site.