A Beginner’s Guide to Construction Equipment Rental
Research shows that Tree Trimming estimate templates Littleton, CO Littleton, CO for heavy duty machinery and equipment have literally skyrocketed in the past few years, especially when it comes to construction equipment like compact truck loaders, forklifts etc. However, there are still traditionalists who frown upon renting equipment as unsustainable in the long run, whereas some company owners really believe that it’s the best choice for their business, especially during the lean years.
Read on to find out why renting equipment might be a good idea for your business, both on a short and long-term basis.
Is Construction Equipment Rental Worth It?
Most construction companies work on a project-to-project basis, and some parts of the year are busier than others, which means that in the slower months, the machines are often left to collect dust and depreciate. Hence most construction companies opt to rent rather than buy, to avoid depreciation and maintenance costs. Plus, the rental fees are naturally deductible as a business expense, which makes it a double benefit for business owners.
To give you a clearer picture on why tree removal Littleton, CO is better for your bottom line that purchasing, we’ve made some comparisons between the upfront costs and rental costs of some of the essential construction tools used in projects today.
For example, a good quality 2,000 pound skid loader requires a $20,000 to $30,000 upfront payment, whereas you can rent it for $379 a day or $927 a week.
Similarly, a 15 to 20 ton mid-range excavator can cost you anything from $100,000 for a basic model to $500,000 for a more advanced one. However, you can hire the same quality machine for $571 a day or $1,233 a week. Lastly, a brand new scissor lift will set you back about $22,000, while a rental is only $99 a day or $287 a week.
So, considering the initial cost and eventual depreciation that comes with purchasing equipment, it seems like a no-brainer to go the rental route.
Choice and Convenience
These days, contractors are spoiled for choice when it comes to machine rentals, as there are several big-name companies that provide good quality equipment options and superb Tree Removal cost Littleton Littleton, CO at competitive prices. Some of the biggest and most reliable companies in the US include Hertz, Sunbelt, United Rentals and Big Rentz. The sector is also catching up to the technology revolution with the introduction of Getable’s free iPad app which conveniently brings together contractors that are renting out equipment to those that are looking to rent equipment.
Another benefit to renting equipment is the fact that you can get access to new equipment upgrades without having to invest the upfront capital for it, and it cuts out the maintenance and storage costs that come with newly purchased equipment. Plus, once you start getting more consistent contracts that require you to work more regularly, you can then rent the equipment before you purchase it so that you can figure out if it’s the right fit for your needs.