Simply Business

Renting Machinery: Factors to Consider

heavy equipment in a dirt roadHiring equipment for a construction project is infinitely better than buying your own because of the cost, the maintenance, and even storage issues. When hiring machinery or equipment, you should consider the following factors.

Check how long the machine has been in use

A long-standing company is always a plus, but this can also mean old equipment or dated machinery. When you hire machinery or equipment, make a point of asking how long it has been in use or the make and model of the equipment. Ask about the kind of maintenance they do to ensure that the machine performs up to par. Ideally, the machinery should be in use for less than two years.

Ask about long-term rentals

Consider how long you’ll be using the equipment and see if there’s a rate package that would work best for you. Some rental companies have a special rate for customers leasing the machine for three weeks or more.

Customer support

Perhaps one of the biggest issues about renting machinery is the operation. Some companies offer the services of an operator at the same time so you’ll be fully covered. If you have no one to operate the equipment, this might be a good idea. If you have someone on hand, however, make sure to inquire about the kind of warranties or insurances they offer if a problem arises.

Insurance Coverage

Operating heavy equipment also comes with risks – which is why your hiring company should be fully covered. You’d want to make sure that any damages originating from the equipment will be shouldered by the company or their insurance company. Of course, it stands to reason that you should also have your own.

Hiring equipment is often cheaper, especially if you’re just starting in the business. With the right approach, you’ll find that you can’t go wrong by simply outsourcing equipment rather than buying one.