Heavy equipment is expensive and can be a problem for many construction projects. That is why a construction manager is always unsure whether to rent or buy heavy equipment.
For start-up construction companies, the issue they may have is affording new construction equipment. Furthermore, it isn’t just the initial cost you have to pay. It also includes maintaining the equipment and keeping it in good condition.
These can all be very expensive for a small company. That is why you should consider hiring equipment instead. However, like every business decision, there are pros and cons that come with them.
The Pros and Cons Of Renting Construction Equipment
Renting is quite an easy decision for several reasons. One of those is that you can hire some of the best equipment in the industry. However, there are many other positives to hiring construction equipment.
Small Initial Investment
The whole reason why people will consider hiring construction machinery is because of the low cost. You may only need to spend £150 a day for hiring a mini digger compared to the couple of thousand it would cost to purchase. That is a great way to save money for a small construction company.
When it comes to purchasing new equipment, it can be expensive for the company. Therefore it can cost a lot of money for a small construction company. The bigger the machinery, the more expensive it will be. On the other hand, if you buy a machine it can be a good investment over the long run but it may take a few years before the investment is worth it. You would also need to
If you are running a small construction company, renting machinery can make managing costs easier. The reason is you will have to make regular payments with the machinery, for example, a monthly fee. If expenditure is an issue for your company, construction plant hire is something you should consider.
Maintenance
Maintenance is essential with construction plant machinery. Not only do you need to ensure that it is working efficiently but you must also service it is safe to use. If you purchase plant equipment, one of the most irritating things is maintaining the product, even if you have a maintenance team working on them.
There are many technical aspects to plant machinery which you may be unsure of. Things like checking the fluids and changing the tracks of your excavator. All of this is expensive and requires even more money than it already is.
One of the best perks of a construction plant hire company is that they will do all the dirty work for you. That includes maintaining the machinery and ensuring it is in the best possible condition. Furthermore, if you have any issues on your construction site, they will resolve problems and fix the machine if it has broken.
Flexibility When Hiring Heavy Equipment
One of the best things about hiring heavy machinery is the flexibility. For example, if you buy machinery, you are tied to using that machine when further down the line, you may need another variation of machinery.
A good example is telehandlers. You may only require a small telehandler when at the start of your project. A couple of months down the line, you may need a bigger telehandler. Sometimes, you can’t predict what machine you need further into the project. That is why the hiring process is much better because it gives you flexibility in hiring other machinery and sending back the old machine.
The hiring process allows you to try different models or brands, giving you the chance to find the right machine for the job. Furthermore, if you are currently using equipment that isn’t quite right, you can send it back to where you hired it from, with no extra costs.
Less Management and Paperwork
Owning machinery has many issues you don’t think of until you have the machine. There are other areas such as storing and transporting the machine. It is something that many construction companies forget and can add to the costs of managing it.
You don’t want to leave machinery in cold weather during winter. It will cause the machine to rust and some parts may age much more quickly than they should. That is where it becomes even more expensive when owning the machinery. People forget paying the additional fees of storage and transportation.
Equipment That Is Tailored To Your Job
One final positive about hiring construction machinery is that it is perfect for every job. With each job, you will face a different obstacle such as working at height. If that is the case, you would require a telehandler hire. However, if you need to dig out a large section of earth, you would need to hire a large excavator or a small excavator if the area is limited with space. The same goes for earth-moving machinery. You don’t always require the biggest machinery, which is something you would usually buy if that is what you usually work with.
No matter the size of the job, you will be able to find the perfect machinery with a construction plant hire service. Furthermore, project demands can change whilst you are on site and therefore,. You may need to change the size of machine that you have for the project.
Another positive of this is that it allows you to accept contracts that vary in size. Therefore, you will be able to accept more work than you imagined. Moreover, if you are not sure on the size of machine for your project, you can always ask the hosting service. They will be able to find the correct machine for you that fits your job perfectly.
To Conclude
Many expensive costs are associated with owning a machine. However, you don’t need to worry about these costs when hiring a machine. That is why it is more beneficial to hire a machine. Not to mention you won’t have to pay the additional costs of maintaining the machine and repairing it if it ever breaks down.
There are numerous reasons why you should hire a machine instead of purchasing one. The key to successful project management is to save costs whenever possible. Using a construction hire service is one way that you can save money on site.