3 Tips To Renting Heavy Equipment

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You might be looking to expand your enterprise, or maybe you have an upcoming contract that requires you to acquire heavy machinery. Companies and individuals have the option of either buying or renting heavy equipment. In most cases, renting out has been a preference of many. What are you to consider when renting out heavy equipment?

  1. Equipment Usage And Availability

John Deere 410G Back Hoes Rental

Getting a reliable heavy equipment rental company with a low downtime is essential. Low downtime means that your chances of finding the machine unavailable are low. Sometimes, projects that require heavy machinery are unpredictable. They are subject to external factors such as inconclusive licensing or poor weather conditions. Therefore, you need to get a rental company whose machine unavailability is not too high to cater for such emergencies. The company should be flexible to avail the equipment as per the contract. Consider if the intended rental firm has all or most of the equipment you require for the job and if its usage is flexible enough depending on the nature of your job.

  1. Current Financial Status And Future Projections

Articulated Dump Truck

The company’s current financial status might be good enough for you to buy the machine instead of renting. However, you need to align the current financial status with the future projections of the company. What jobs do you intend to do a few years from now? If you are likely to expand your business and use more than one machine beyond your present job description because of the extension, it will be reasonable to rent. The maintenance cost if you bought the machinery will also be dependent on the present financial position of the company. You may opt to buy but then run out of funds to maintain it. In such a case, renting would be the better option compared to buying. Technology is dynamic. Your current equipment needs may not align with your future projections. You may need to update your machinery at a future date meaning you need to set aside capital for that need. Most rental companies have up-to-date equipment so if your company will strain to update the machines at a future date then renting is a good preference.

  1. Job Frequency

Volvo EC250 D Excavator Rental

Renting of machinery is suitable for short-term projects. It makes sense if you rent equipment to carry out one task rather than buying it only to have it lying around most of the time because it is not being used. This option means that you need to understand the nature of your job and plan. Estimate the number of times you will likely use the equipment. If the frequency is low, then opt for renting compared to buying. Discuss with the rental company on the flexibility terms just in case there will be any factors slowing down the project to avoid paying a high cost. If you are handling several projects within a short period, then you can hire the multipurpose equipment instead of hiring individual ones for each project. It will save up on the rental cost.

7 COMMENTS

  1. Thanks for pointing out that renting heaving construction equipment is best if you don’t frequently do construction projects. My uncle is working on building a home for his family, so I think he may want to rent the construction equipment. I’ll share this article with him, so he can make an informed decision.

  2. It got me when you said that renting an equipment will assure you that you will have that equipment since they will make sure that it is always available for their clients. With that in mind, I will tell my uncle to just rent an equipment since they are always available. They just needed to rent a truck to transfer a large amount of soil from one side of their farm to the other side. Thanks!

  3. Thank you so much for mentioning that low downtime means that it is not likely that you will find the machine unavailable. My husband and his best friend are planning to start working in construction, and they need to start renting equipment for it. In my opinion, they should make sure they find the most reliable service around so they can accomplish this new career they are seeking.

  4. Thank you for your tip to choose a heavy equipment rental company that has low downtime. My brother is in charge of a construction company, and he needs to find a business that offers bobcat rentals. I’ll pass this tip onto him, so he can find a reliable company.

  5. It was really helpful when you said that you should know how many times you will be using the equipment. My husband is wanting to rent some offroading equipment in the next couple of weeks for his construction project coming up at his company. I’ll make sure to pass this information along to him so he can know more about renting equipment!

  6. Thank you for the tips on when to consider hiring heavy equipment for the job. My boss was recently tasked to construct a hi-rise building somewhere within the state, and he’s thinking about purchasing heavy equipment for it. I appreciate how you explained that hiring a heavy equipment rental company is efficient because it’s flexible to avail of the equipment as soon as possible.

  7. I like that you said that if a construction company could not afford to have their heavy equipment upgraded in the future, then it would be a good idea to just rent in the meantime. My brother and father are planning to start a construction company in town, and they already have two waiting clients if they do open. I’ll share this information with them so they will consider renting equipment while they still haven’t gained their capital. Thanks! http://sparepart4less.com/product-category/hydraulic-system/pumps

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