When you depend on equipment to get the job done every day, you know how important the right machinery is to your bottom line. If you’re an independent contractor or even a foreman for a large construction company, equipment helps you meet deadlines and complete projects the right way. Without the right pieces, you’re left behind schedule and at a profit loss.
But, buying every piece of machinery you need isn’t always the most practical option. Heavy machinery like lifts and cranes can cost well over $50,000. If you don’t need this equipment as part of your everyday operations, you’ll probably never see a return on investment for purchasing it.
Renting equipment is a great option for getting the machinery you need to complete a specific job. You’ll have the flexibility you want with a fraction of the price of purchasing the equipment. Let’s take a look at how you can find the right equipment for the job by renting it!
Finding a reputable, local dealer is one of the most important things to do when you’re looking for equipment rentals. For example, if you live in the Harrisburg area, find a local equipment rental company you can trust. You want to make sure they’re close enough to your business. This way, you can visit them to see what shape their machines are in.
Before you sign any contracts, it’s in your best interest to make sure the equipment is well maintained, inspected, and generally clean. A good equipment rental company takes pride in their machinery, making sure it stands up to the job that needs done.
Once you’ve found a rental company you can trust and you’ve taken a look at the quality of their inventory, it’s time to talk numbers. Equipment like cranes, lifts, and aerial platforms cost a lot of money. The equipment rental company will have multiple contracts and liability forms you need to fill out. This helps protect their investment, and makes you accountable for damages from carelessness.
Also, you can expect them to ask for a credit check. They’re loaning machinery that costs over $100,000 in some cases. It makes sense for them to look at your credit history. This helps them see how much of a risk they’re taking on renting their equipment – based on your credit score, payment histories, and derogatory marks.
It’s important that your rental company has the equipment you need at a fair price. The whole point to renting the equipment is to save money. You already know purchasing a new forklift or aerial platform would cost you quite a lot. But, some rental companies can have unfair daily costs. If you’re not happy with the costs and fees you’ve been quoted, there’s nothing wrong with exploring your other companies.
If you are happy with the contractual agreement you’re offered from your equipment rental company, you can still explore other options they offer. Some rental companies offer equipment leasing in addition to rentals. Equipment leasing programs work more like a rent-to-own program. Instead of renting the equipment for a few days, you can sign up to lease it for a longer period of time – just like how you would lease a car. This is a great option if your end-goal is to own a new lift, but you don’t have the overhead to buy one outright.
Renting the equipment you need for a commercial, industrial, or construction job can be a really great option. You can’t beat the flexibility renting gives you without making a huge investment. Just make sure to find a dealer you can trust, understand all contracts before you sign, and find the best options for you!