The ongoing costs of equipment ownership – insurance, maintenance, job site and in-house repairs, inspections, transportation and storage – tend to increase over the life of the equipment and compound the cost of actually using the equipment.
Renting equipment greatly reduces the amount of capital tied up in fleet especially when equipment is only used when there is a project that requires it.
Some construction or maintenance projects may require the utilization of different types of equipment. Renting enables you to use a variety of equipment for as long as needed without tying up capital. Because you have a fixed cost for the rental, you can factor that cost into your bid. Your rental company representative should be able to assist you in the estimation process.
Equipment rental companies regularly rotate fleet, replacing aging equipment with newer models. Using late model equipment on projects helps you achieve higher productivity through technology advances, as well as less downtime due to equipment reliability.
Some of the costs of equipment ownership include:
- Maintenance. Unless experienced mechanics are employed to maintain and repair equipment, as well as management staff to oversee the maintenance operation, you will need to hire an outside service person or company to maintain your equipment.
- Security. Units should be stored in a secure yard when not in use. Installing anti-theft and location-monitoring device on new equipment can prevent theft and accelerate recovery, but it is an added expense and operational distraction.
- Transportation. A driver with a commercial driver’s license, as well as tractor-trailer rigs, may be required to haul equipment to job sites. Purchasing hauling equipment is an additional expense, and while the equipment is being used. Trucking companies or outside haulers can move owned equipment, but at a cost.
- Government environmental regulations. Assuring your storage yard complies with ground contamination standards is a challenge.
Keep your costs down and ask your Neff Rental sales rep about renting equipment for your next project, and having it delivered on time and, if necessary, receiving 24/7 service. For more information contact Neff Rental or call us at 888-709-6333. We are ready to assist you with your equipment needs.