Although more construction work may be available to construction contractors, credit still remains tight. Some contractors may find it difficult to purchase equipment needed for a job. Renting that additional equipment is a viable alternative. Here are seven key reasons why renting equipment can get you what you need while minimizing ownership hassles.
- Cost control - Renting equipment means no hidden costs of owning. Just make sure the equipment is returned undamaged.
- Capital conservation - Capital won't be tied up in equipment.
- Borrowing capacity - Increase borrowing power by offering a better ratio of assets to liabilities.
- Safety - Using what you have instead of what you need can be a safety issue if equipment is used improperly.
- Real cost analysis - Rented equipment offers you just one cost figure.
- Inventory control - Continuous billing for rented equipment establishes personal accountability.
- Mobility - Contractors are able to go to almost any rental business to find the items or equipment they need.
Read more about reasons to rent in the June/July 2011 issue of Pavement Maintenance & Reconstruction magazine.