Why You Should Use Rental Equipment For Short Term Projects
Equipment can account for a considerable amount of your whole budget. That’s why it’s a wise idea to consider renting instead of buying, especially for short term projects. For one, you get the advantage of having the right tool for a matched job.
Many other costs and usability factors that determine how you should acquire your tools. Some advantages of renting equipment include:
Tax Breaks
Rental equipment is a deductible tax item, while purchasing is subject to a depreciating tax rate. Rental equipment expenses are also more flexible.
Moreover, they are not subject to large corporate taxes. Such tax deductions are also refundable. This frees up more money for projects in the future, or they can reflect in your companies profit statement.
Avoiding Transportation And Storage Costs
The last thing any contractor wants is for their shiny new equipment to sit in the sun or snow when not in use. Such methods of storage degrade the quality of the equipment. Storage space can also increase your expenses and transportation can become a logistical nightmare. However, you can eliminate such fears by opting for rental equipment. This is because storage and transportation are the rental company’s responsibility.
Compliance
We live in an age of stringent emissions and environmental protection laws. Your company can find itself paying stiff penalties for not complying with such requirements. It’s not always possible to acquire the latest equipment because of the cost and logistical factors. Therefore, opting for rental equipment that meets compliance standards can be a way to increase your compliance.
Rental equipment can give you a competitive edge
Competing with large construction firms for well-paying jobs can be difficult. Such firms have all the money to splurge on the best and latest toys. You would have a hard time competing for the same jobs with your old rusty equipment. Rental equipment can be leveraged into an advantage that can help you bid for the same jobs as the big boys.