How Leasing Construction Equipment Benefits Current Building Trends

 It is no secret that renting construction equipment is becoming increasingly popular for various reasons. Construction companies have had to find ways to save money wherever possible due to the rising equipment purchase cost and an unpredictable market, which has forced them to increase equipment rentals. There have been many occasions where renting has become a viable option for a broad spectrum of construction companies. By doing so, they can reduce their costs even more and operate construction businesses that are more financially stable. 

Throughout this article, we have provided you with a list of just some of the benefits you and your company can expect to reap once you decide to begin renting construction equipment for your company.

Save on the initial purchase price.

New foundation construction equipment can be a significant expense for your company. Once you invest in equipment, you will not be able to switch over to other equipment for many years. Purchasing business equipment can be costly due to the upfront costs involved, so renting or leasing equipment is a better option.

Cost-effective maintenance and repair

When you own the equipment, it is essential to consider the cost of maintenance and repairs. Although maintaining and repairing rental equipment is still necessary, the costs remain lower than purchasing the equipment. Heavy machinery and vehicles require maintenance and repair at the highest possible level, which is why a company must consider these costs when purchasing the equipment.

With rentals, maintenance and repair costs are lower and more manageable than when purchasing and owning a similar thing because of the labor and time involved. The leasing process removes all the stress of maintaining a piece of equipment for its entire life cycle, preventing you from dealing with this extra stress on top of your already hectic schedule. If you rent equipment, you can focus on the future rather than planning out a maintenance plan for the long term, which can take a lot of time and energy.

Protecting yourself from market fluctuations

Construction is a dynamic market subject to several factors. As far as the equipment cost is concerned, there is nothing you can do about it, nor are there any controls on how many jobs are available. Renting equipment is one of the best ways for your business to weather the uncertain financial storms that arise from time to time. Leasing provides a flexible option that does not require you to commit to a piece of equipment, making it easier for you to handle future market fluctuations.

Costs of depreciation are not incurred.

Owning machinery entails high depreciation costs. On top of the initial investment in the equipment, reselling it and keeping it in good working condition requires quite a large investment in maintenance and repairs. As value depreciates, you have more difficulty recovering your initial investment. Rental equipment can minimize depreciation losses, even though each company operates differently.

Rentals tailored to specific projects

Construction companies are handling many projects at the same time. You can rent specific equipment for projects rather than transferring and sharing equipment among multiple jobs. Doing this prevents logistical delays and ensures that every job site has the necessary resources to complete the project.

Resolve storage issues for equipment

Storage solutions must be in place to keep equipment when it is not in use. In the event of improper storage or exposure to harsh weather conditions, equipment may depreciate more quickly. It is also important to note that warehouses and storage space add to the expense of construction companies. By negotiating with suppliers or vendors, your business may not have to worry about long-term storage. As a result, you will save time and money on logistics and storage. A warehouse can also be costly, particularly if you have a fleet of machinery. Leasing takes these inconveniences away.

Transportation Logistics

Rental equipment saves you the trouble of transporting machinery to project sites. Transport can delay a project's progress, affecting its efficiency and productivity.  Therefore, delays can occur due to waiting for equipment, causing job site delays. As a result, renting equipment allows you to avoid these costs and provide more reliable equipment options.

Conclusion

So you're looking for a reliable equipment rental? GeoQuip is here to help. With us, you can expect to get the best piling equipment rental Florida.