The cost of acquiring heavy machinery can be a great challenge to any business person undertaking a big construction project, hence the option of equipment hire. Examples of equipment hired out in the construction industry include excavators, rollers, track hoes, industrial loaders, boom lifts, backhoes and cranes. There are numerous advantages associated with renting equipment.
No breakdown costs
Equipment hire eliminates the costs associated with equipment breakdown. This is because when you rent machinery from a reputable rental company, they will offer you reliable equipment, which have been serviced by trained mechanics, thus reducing the chances of equipment breakdown. On the other hand, if you purchase your own equipment you will have to bear all the costs related to maintenance and repairs. These costs are covered by the rental company in the case of renting equipment. You should make sure that the terms of repair in case of equipment breakdown are clearly outlined in the rental agreement.
No Capital Investment
Unlike purchasing heavy equipment out rightly, renting equipment does not require an initial capital investment. This is advantageous for mid-sized companies that might not have the finances to complete big projects; simply, because renting frees up cash that you can utilize in other important areas of the project.
New and Advanced equipment
Technological innovations are constantly having an impact on the construction industry, resulting in more and more equipment being outdated within a short span of time. When you choose to buy equipment, you are "entering into a long-term contract," and you may only be able to replace the equipment when it breaks down or when you can afford to buy a more advanced one. On the other hand, machine rental companies are constantly upgrading their stock to in-cooperate newer and upgraded versions of all equipment. Therefore, giving you access to the latest and most advanced equipment in the industry.
You get to do a test-drive
Equipment hire gives you the chance to test the equipment before you decide whether to rent or not. For instance, you may not be sure whether a particular equipment is necessary for your project or whether a particular brand of equipment will perform optimally. Hiring this equipment will give you a chance to evaluate whether or not it is right for your business.
Earthmoving equipment hire can help you complete your project without the need to run around looking for extra financing to purchase the equipment you need. Take advantage of this and more benefits of renting equipment for your project.