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10 advantages to renting power equipment for your business

10 Advantages to Renting Power Equipment for Your Business

Posted on 22-03-2021

Companies in the construction industry need to be as efficient as possible when running their operation. These days, the business world is competitive, and you’ll want to have the edge over other similar businesses. One effective way to increase your bottom line and save money is by renting power equipment instead of buying it.  

For every project, you’ll want easy access to the necessary machinery so you can provide your clients with an excellent experience and flawless work. That’s where renting equipment comes in - it has incredible advantages that will take your business to the top. Here are the top 10 reasons you should rent power equipment for your business.  

1. Lowers Future Expenses

Many companies have put together teams that are committed to maintaining their equipment. These machines will end up functioning more optimally since equipment consultants know what services need to be performed. As a result, you end up saving on fees and costly future expenses.

2. Enhances Cash Flow 

By renting power equipment, you won’t need to put significant money into up-front overlays or financing. As a renter, you can recover all costs with the cash flow you receive from projects. Plus, rental expenses are deductible, and you don’t have to pay extra for warranty, storage, insurance and more. Another bonus is that rental costs are tax-deductible. 

3. Provides More Flexibility 

Since contract jobs vary in their needs, it is essential to have flexible equipment options. That way, you’ll know the job will be done correctly, and it can be an advantage. In the most intensive construction projects, sometimes unpredictable things can happen. 

These urgent situations can end up costing you if your equipment fails or if you’re underprepared. When you rent with a qualified supplier, you have more flexibility to cover all your bases. Renting equipment is such a convenient option since you know that you’ll have solutions for every situation.

4. Provides Access to the Most Innovative Technologies 

Since technology is always evolving, it is essential to stay on top of the latest trends. If you use the best technology for your requirements, you can enhance productivity and accuracy, as well as lower your costs. The most innovative equipment will also increase fuel-efficiency, which leads to more profitability. 

5. Lowers Your Risk 

Renting does require a long-term commitment financially, but the upside is that it lowers more significant risks. After renting, all you have to do is bring the equipment back and then your payments will stop. In essence, there is less risk than purchasing machinery that loses value when not utilized. 

Some more advantages to renting include better uptime since the equipment is immediately available in case of a faulty machine. Top rental companies, like Peel Exterior Maintenance, offer Rental Purchase Options (RPO’s), which allow you to buy the rental equipment at any time. This option also will let you use a percentage of the rental fee towards the price.

6. Gives You More Time and Convenience

When you own equipment, managing it can be a daunting process. Renting requires less responsibility and frees up your time to devote yourself to your projects. Renting also allows other people to perform various tasks like regular maintenance and service, fluid checks, schedules, testing and more. 

When experts at a rental company handle the details for you, you will only save on time and costs.

7. Eliminates Storage Costs 

If you own and operate a construction business, then you know that storage costs can be expensive. If you own a lot of equipment and tools, you will need more space to store them, which adds more expense. Plus, you have to pay not only for space but for things like security and insurance. 

Renting equipment lowers overhead costs and doesn’t require you to seek out extra storage space. All you need to do is return the equipment and not have to worry about any hassles.

8. Keeps Your Operation Running Smooth

Many construction business owners enjoy the process of renting equipment because they don’t have to worry about any potential malfunctions. In the event that something does go wrong, you can call the rental company, and they will have an immediate solution. You don’t have to be concerned about training your employees on maintaining the equipment properly since you’re leaving it in the hands of a dedicated professional rental team. 

When your operation can run efficiently without added stress, you can expect more time dedicated to your projects.

9. Reduces the Amount of Equipment 

As companies expand, they need the right equipment to match their needs. That could mean larger equipment or machines with more capabilities. These types of machines can take up valuable space and create a headache for managing large fleets.  

By renting equipment, you have more choices available to you without adding to your fleet. Some companies own a bit of equipment, but that doesn’t mean you have to own every piece of equipment. With rentals, you can add to your machine collection as needed. They are also advantageous because they give you more time to complete projects without unnecessary expenses.

10. Helps You Stay Competitive 

Since the world of business is so competitive, staying ahead of the competition can be challenging when you own equipment. Once you invest in equipment, you will not be able to test out the latest innovations without having to upgrade frequently. 

To simplify the process, many companies opt for rentals to have access to leading technologies. Plus, if you have clients who want to know what type of equipment you use, you can provide them with more options and stay on the same level as larger businesses. 

Team Up with Peel Exterior Maintenance 

If you want to be successful with your equipment rental, leave it in the hands of a team with an excellent reputation, like Peel Exterior Maintenance. We have been dedicated to serving the Halton and Peel Regions since 1989. Our extensive list of equipment will cover any of your requirements for specific jobs and projects. We pride ourselves on providing top quality and dependable offerings, as well as excellent customer service. 

To learn more about  renting power equipment for your business, call Peel Exterior Maintenance at 905-873-8988 or contact us here. 

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