Controlling Construction Costs: When to Rent Construction Equipment

If you’re planning a construction project, give thought to your construction and building equipment. 

Construction equipment is a $761 billion industry. It powers the projects that build the homes we live in, the roads we travel on, and the buildings we work and do business in. 

Renting construction equipment can help you control your construction costs and keep your project on schedule. 

But this is a case-by-case choice that you’ll need to explore. Below we will teach you all about exploring your construction equipment rent options. 

Decide if Renting Is the Right Option

Construction costs are the main factors to consider when deciding whether renting is right for your project. Renting is typically less expensive than purchasing the equipment. Consider the timetable of your project, how long you will need to use the equipment, and whether there is more value in purchasing for the long term. 

Equipment leasing might still pay off long-term since you’ll typically get machinery that is brand new and low maintenance. Prolonged equipment maintenance costs can chip into your profits and make it so that you have less money to go around. 

Exchange notes with your construction manager to see which situation is ideal for your project. 

Know What Construction Equipment You Need

If you’ve decided that renting is the way to go, you should consider which equipment you should find. 

Some of the most common equipment rentals are excavators, graders, dump trucks, forklifts, pavers, and cranes. There are specialties within these categories as well.

Do you need a gantry crane, floating crane, or crawler crane? What weight capacity do you need for your forklift? 

Other construction projects might need stone equipment like marble, granite, limestone, and sandstone. Know your goals for your construction project, as this dictates which equipment you need, and how many of each. 

Consider Equipment Maintenance and Repair

Always find out how maintenance and repair will affect your rentals. Some companies will include repairs as part of the contract, while others will leave this obligation to your company. 

Both options require you to factor in the costs and the amount of time that will go into the work. Choose the option that lets you still hit your construction timetables, while also making the best use of each workday. 

Find a Company That Can Provide the Right Service

There are some core attributes that you should keep in mind when selecting a construction equipment rental company. First, they should have plenty of equipment in inventory, so that you always have what you need and have access to replacements. 

Their prices should be fair when considering the market value of the equipment. The equipment rental company should also be clear in what services they provide, so you know if they’re going to deliver and haul off the equipment for you. 

Ask other construction companies for some referrals so that you can make the right decision. 

Explore Your Construction Equipment Rent Options

The bottom line is that you have plenty of construction equipment rent options. It’s up to you to figure out how you explore these options, so use these tips to help you. 

In the meantime, bookmark our site so that you’re always in the loop on construction and business tips. 

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