4 Advantages of Renting Heavy Equipment
Having the right fleet of heavy equipment is the key to keeping your construction, demolition, landscaping, or other operations running. Whether you are just starting or a seasoned professional within your industry, your equipment will always be at the center of your business.
After all, without access to an assortment of heavy machinery and attachments, it is impossible to maintain ongoing projects or take on new ones to grow your business.
However, purchasing heavy construction equipment can be a large upfront financial investment that some companies and individuals can’t yet manage. The costs increase with each unit you add to your fleet and they don’t always stop there as you’re also responsible for their long-term parts and maintenance to minimize potential downtime and keep your jobs moving.
That is a significant amount of money to put out, and although there are many advantages to buying outright, renting heavy equipment can sometimes make more sense.
There are countless benefits to renting. Not only is it a cost-effective option, but it can also save you many headaches and improve the overall efficiency of your operation.
The Benefits of Renting Heavy Equipment
There are several factors to consider when deciding whether to rent or buy heavy equipment for your construction, demolition, landscaping or other type of company. The following are some of the main benefits that come from renting:
1. No Repair Costs
If you want to run a successful construction business, keeping your equipment well-serviced is crucial, as that is the only way to ensure that it remains dependable.
When you own your equipment, you must cover repairs and maintenance costs, which can really add up, especially when you already own several machines.
Whether you are scheduling ongoing preventative maintenance or paying for emergency repairs, hiring technicians is never cheap. Even if you decide to do your own repairs instead of hiring someone else to do them, it still comes with some unavoidable costs.
However, when you rent your heavy equipment from a trusted supplier, you can rest assured that your equipment will be kept in top condition without having to spend the extra money to keep it that way.
That’s because, in most cases, your supplier’s technicians will help take care of all servicing and repairs, removing that burden from you.
2. Improved Flexibility With Projects
If your construction business is like most others, you probably started off by only offering a few select services. After all, with limited equipment on hand, that is often all that’s possible.
Do you envision your business growing and evolving, potentially jumping from residential to commercial and maybe even industrial contracts?
If so, your fleet will need to expand to support the demands of such projects and renting could make that expansion possible much faster. If you take the time to wait and save up for capital expenditures, it could take years to secure financing and may never be possible.
However, tapping into the rental market will grant you access to a full line of heavy machines and attachments so that you fulfill immediate needs right away. That way, you can also offload that equipment without any problems once you no longer need it.
3. Eliminate Storage Needs
Another surefire way to rack up bills when you run a construction business and you own your equipment is through storage costs. Generally, owning more machinery means needing more space to store it when not in use. Not only do you need to rent or buy space, but you must also spend money on insuring that space and keeping it (and your equipment) secure.
On the other hand, when you rent your heavy equipment, you can keep your overhead costs much lower because once you no longer need to use the equipment that you’ve rented, you can simply return it.
Then, if you need it down the line, you can rent it again. Doing this on an ongoing basis will prevent the need for long-term storage spaces altogether.
4. Access the Latest Technology
When you purchase equipment, you often have it for a number of years, likely due to your leasing or financing duration terms.
Therefore, even if your equipment was brand new upon purchasing, it may need to be updated after a while. This rarely happens with rentals, as rental equipment suppliers constantly update their stock with the newest equipment on the market.
Consequently, another perk of renting your heavy equipment is always having access to all the latest innovations. As new versions of different types of equipment are released, you can rent and try them out to see what they have to offer.
Such technological innovations often help contribute to improved efficiency and profitability.
How Oaken Equipment Can Help With Heavy Equipment Rentals
If you’ve decided that renting heavy equipment is right for you and your construction business, and you’re seeking an equipment rental in Barrie, Muskoka, Windsor-Essex or throughout the GTA, then Oaken Equipment can help facilitate that for you.
Whether you just need some equipment for a short-term project or something to get you through the season, we can take care of all your rental needs.
We have a huge selection of young Bobcat machines and attachments to choose from and all of our equipment is serviced by our expert technicians and ready to work. Our experienced rental staff can also help guide you in the right direction if you are new to renting or new to the industry in general.
Through our Bobcat dealerships, Oaken Equipment is proud to offer highly competitive rates on all of our rentals, with daily, weekly, and monthly options available.
Depending on your needs, we can also put together a customized package to suit your unique rental requirements, including options for seasonal and long-term rates. We even have a rent-to-purchase program that gives you the option to work towards equipment ownership when you’re ready for it.
For more information about our large selection of heavy equipment or to learn a bit more about our rental process, check out our rental fleet here or call Oaken Equipment at 1-888-861-1447 and speak to the Bobcat dealership nearest to you.