Advantages of renting heavy equipment versus owning it
Heavy equipment is often used in construction, industry and in mining sector for various purposes such as digging, storing, filtering, trenching, lifting, loading and excavating. Deciding whether to buy it or renting matters and makes a difference in construction operations, project management and in the budget. It depends up on the company, project budgets, availability of expertise and resources, urgency etc. Buying large equipment is a choice for those companies who have money to spend. But for small to medium sized companies, renting is a wise choice, where you can save money, can access newest technology and no worries about upkeep issues. Here are the reasons why you should depend on heavy equipment rental companies in Dubai for your industrial or construction projects.
Advantages of Renting Heavy Equipment over buying
Renting heavy equipment benefits many industries. From agriculture to waste management, industries rent equipments for many reasons. The major advantages and benefits of heavy equipment rental are:
- Avoid operational expense
When the equipment is bought, it needs service from time to time. Equipment parts, fluids, hydraulics must be changed and technology should be upgraded. When rented, there are no operational or service charges, which will be handled by the service provider.
- Tax benefits
Payment to rented equipment is considered as recurring expenses, which is beneficial than the upfront cost of the bought item. The purchase cost is calculated as a depreciated asset in the future. You may get tax benefits from rental service according to your business nature.
- Save the up-front investment
Many of the heavy equipment are costlier to buy and can take up a lot of investment. When you try to sell them, you may not get the price you have expected. Therefore, renting is the best choice for heavy equipment.
- No cost for storage and transportation
Rented equipment will be handled and transported by the service provider, whenever it is demanded. There is no need for you to construct large storage spaces, if you choose to rent equipment.
- Maintain strong balance sheet
The cost of rental equipment is not considered as a liability, when taking loans. But, for purchasing, the machineries are considered as a capital equipment debt by the banks. Therefore renting is a good option to maintain a healthy borrowing power.
- Environmental and legal compliances
Companies must ensure all the environmental and legal compliances without any issues. If you don’t want to handle compliance related problems, rental is the right option, as those formalities wll be taken care of by the service provider.
- Maintain market competitiveness
There is nothing to worry about whether you get enough number of projects or not because you can rent any equipment from the rental services as per the project requirements and therefore have access to all the equipment that a big company owns. That marks you to the top when you negotiate for a new project.
You cannot buy all the equipment every time there is a need. But can rent them for most of the projects in construction or industry. Moreover, if you want to but equipment but not sure about it, you can rent it and test for the functioning before buying. While renting heavy equipment, more than pricing, speak to the rental service provider to know about the equipment ranges and turnaround time. Choose from the heavy equipment rental companies in Dubai who offers quality assurance, better service support, expertise and best market reputation.
Crane Rental Company in UAE
Bob Cranes is one of the leading heavy equipment rental companies in Dubai, exploring endless possibilities in Heavy Lifting using breakthrough technology and leadership. We have professionals, working with specialized technology, innovative engineering, an unparalleled fleet of heavy equipment, and comprehensive power lift solutions to face all the challenges in the field.
Bob cranes is the best crane rental UAE, focuses on customer satisfaction and quality in the services we offer and safety with an acclaimed authority in all our major lifting projects. Know more about Bob Crane equipment Rental services from our website https://www.bobcranes.com/