Do you have a construction project in progress or mind? You are wondering about the budget to allocate for the equipment to be used. It is particularly advisable to opt for the rental of heavy machinery. This option is interesting for several reasons. Discover them in the following article.
What to do before renting heavy equipment?
1. Set a budget
Consider rental and purchase costs in the context of your budget. If you’ll be using the equipment for many projects, look at your internal budget. If you are looking for specific equipment for a few projects, look at the rental costs offered by building companies to set a budget.
2. Compare ownership and rental costs
For rental, multiply the proposed rental rate by the length of service. Then add the pick-up and delivery costs, as well as the insurance associated with the rental. Consider the initial price plus shipping, storage, maintenance, and insurance for purchase. But most of the time, the items more than make up for their price, and this is a good investment. Subtract an estimated resale value based on when you plan to sell. Then compare the final results.
3. Consider the frequency of use
The length of your project has a significant impact on your decision. If you are working on several projects, it is best to buy. If you’re working on a single construction project, it’s better to rent equipment.
Some helpful tips:
1. Know what you need
You can get the most out of your equipment rentals when you know what you need for your project. You’ll save time and reduce risk. For example, a specialized company can advise you and suggest suitable equipment for modular construction.
2. Read the reviews
Check out the online reviews to get an idea of the company that offers you the rental. If you are satisfied, you can contact the company to sign a contract. Before signing, read all the terms and conditions. This will allow you to know your level of responsibility, the cancellation conditions…
Always do your own research prior to buying or loaning anything, do your due diligence because if anything happens then, the onus is on you and no one else. Also, don’t sign anything without going through the contract thoroughly because this is how you can get scammed.
3. Train your employees
Machines and equipment can be new for your employees. The slightest mistake in handling can result in damage that can be fatal. So make sure workers are trained on all rented equipment before using it. Don’t use the equipment outside of the terms and conditions, or you may be in violation of your rental agreement and put your employees at risk.
Mistakes to avoid when renting equipment:
1. Choosing the wrong equipment
Renting the wrong type of equipment for your construction project can be costly. This is because you will have to renew your rental, which will incur additional costs. To avoid this, discuss the scope of your work with the equipment rental company. Another alternative is to rent versatile equipment that can incorporate various attachments.
2. Getting the timing wrong
By misjudging the length of the rental period, you risk paying for days you don’t need. Underestimating the rental period can result in extended rental fees, which will add to your initial budget. To do this, establish an accurate schedule to deliver your equipment when you need it and picked up when you are finished. If there are any changes, discuss them with the provider to make appropriate decisions.
3. Neglecting quality
A quality equipment rental company should provide you with suitable, quality equipment. Check for rust, wear, etc. These things can affect the safety or performance of the equipment and will impact the quality of the work. To benefit from quality equipment, always choose a reputable company.