One of the greatest challenges of any construction project today is the acquisition of heavy equipment. Cranes, in particular, cost a fortune and can be expensive, for both the established and the start-up construction companies. Add this to the fact that the cranes often require other supportive tools such as rollers, boom lifts, back hoes, and industrial loaders- purchasing all these items can be costly. Getting a crane for rent offers a solution by providing the contractors with an affordable short-term use of the cranes.
One major benefit of hiring a crane is that you don`t have to spend a lot of money upfront. Cranes range in cost depending on a gamut of factors such as type, age, and duty ratings. However, regardless of the type, cranes are expensive, and can enormously impact on a budget of your construction firm. Hiring can be beneficial to the small companies with a limited amount of capital, and those that do not have accessibility to large financial loans. The companies can save the initial purchase costs and use the money on some important development ideas.
Save on the maintenance and repair costs
Heavy equipment is prone to wear and tear and often requires constant maintenance. Compared to owning a crane, the cost incurred in repairing a rental crane is exceedingly lower. Depending on the rental agreement, a crane rental company is responsible for ensuring that the crane receives all the maintenance, and repairs it in the event of a breakdown. That notwithstanding, the stress of maintaining a crane is less since you don`t have to maintain the equipment for a lifetime, and it may only be several breakdowns which cannot have a significant impact on your operating budget.
Protection against market fluctuation
In as much as the construction industry is a lucrative market opportunity, recession and downturn of the economy can have a significant impact of the heavy machinery. Change of the market trend can also render some of the specific-type cranes obsolete. Such cases can be detrimental to the construction firms which have made huge financial investments in the cranes, including securing loans, leaving them with an immeasurable financial burden. On the other hand, a hired crane allows the construction firms to become flexible, and versatile, allowing them to make strides in the changing economy rather than planning on how to pay for the equipment.
Avert the depreciation cost
Like any other equipment/ tool, cranes are subject to the law of depreciation. They wear and tear, after use. Recovering the initial costs becomes hard due to the depreciation of the crane. A constructor can avoid the depreciation cost by hiring a crane.
Buying a project-specific crane limits your ability of expansion and development. On the other hand, renting a crane allows you in a wide array of projects, requiring different types of cranes. With a crane for rent, different types of cranes are always at your fingertip.
Crane storage is a factor that is always undermined by most contractors. Apart from regular maintenance, repair and storage of any equipment, including cranes is vital for longevity purposes. Unlike other construction tools like wheelbarrows, tractors, or even forklifts, a crane requires specialized warehouses for storage. Warehouses for storage add to your operational cost. However, you can avoid this cost by hiring the services of a crane rental.