The construction equipment rental industry has grown astronomically in the past decade. It has more than doubled since 1993 and has skyrocketed from $11.2 billion to $22 billion, and 10 years prior the industry was valued at a mere $1.1 billion. This increase is probably partially due to the construction boom of the 80s and 90s, but also because of the benefits construction equipment rental offers in contrast to purchasing the same equipment.
The main benefit of renting construction equipment is that you are not required to pay the full price of the machine. You can rent a boom lift for as long as you like. The very day you no longer need it, you can often return the boom lift and stop paying for it. If you buy a variety of construction equipment, chances are some of the machines will be sitting in storage that you have to pay for, collecting dust. All the while, you are making payments on that very piece of equipment. When you rent construction equipment, you no longer have to worry about paying for equipment that you are no longer utilizing. You can take on a variety of jobs and rent the equipment as need be, which saves you a lot of time and money.
Maintenance and repair are a breeze when it comes to construction equipment rental. Obviously, you do not have to pay for the regular maintenance of the machine. That is done when it is at the rental company. This saves you from the cost of maintenance and the time it takes to stop a job and check the machine. On top of this benefit, repairs are also easy and simple. In most cases, the construction equipment rental company will send someone to your job site to repair the boom lift. If they do not think the repair can be done quickly and effectively enough, they might simply send a whole new machine. This keeps you on schedule and is usually free of charge. Think of all the money you will save on maintenance and repair when you switch from purchasing to renting boom lifts.
When you purchase equipment, you have to handle purchasing insurance for that equipment as well. This is costly and a hassle. It wastes precious time and money that could be contributing to making your job site run more smoothly. When you rent construction equipment, the construction company often takes care of the insurance for you. They will either have insurance already paid for, or they might charge a fee along with your rental fees. Either way, boom lift insurance is usually paid for without you having to lift a finger.
If you are in the market for a new boom lift and are wondering whether you should rent or buy, we have the answer for you. Because rental companies often update their fleets, the equipment is usually new. If you rent construction equipment, you will usually be renting the newest version with the best, most efficient features.
If you are interested in renting construction equipment, contact us. We appreciate your call and will gladly provide more information about rental fees, policies, and more.