Are you looking for construction equipment? Whether you’re an independent contractor or a business, there’s going to be a time where you’re going to need equipment that you may not have.
Some will think about buying the equipment, but another great option is renting construction equipment. There are lots of misconceptions when it comes to renting construction equipment.
In this article, we are going over 3 common myths about renting construction equipment.
Breaking the Myths
Construction equipment plays a vital role in getting major construction jobs done. If you have reliable equipment, you won’t have break downs or halts to production.
Sometimes a job will require that you use specialized equipment. If this is the case, you’ll be faced with the option of either buying this equipment or renting this equipment.
While you may want to buy, renting can be more cost-efficient for your company, and you may end up with more reliable equipment. Let’s dispel these age-old myths about equipment rental.
Myth 1: The Equipment is Beaten Up And Old
It’s not surprising why someone wouldn’t want to rent construction equipment because of this myth. Old worn down equipment can not only slow down your production but can also run the risk of shutting down a job site entirely.
The truth is that most companies have rules and regulations where they need to keep their equipment in tip-top condition. Machines are thoroughly inspected and are kept up through rigorous standards.
Also, most companies have policies that state if their equipment doesn’t work, you can take it back and exchange for one that works. This will give you the peace of mind that your job site won’t get shut down, and you can keep the focus on getting the job finished.
Myth 2: Renting Construction Equipment is Too Expensive
You may be tempted to buy construction equipment, but there are some factors you need to put into consideration. Consider the following.
- How much will it be used
- Maintenance costs
- How it will impact your budget
- Certificate, license, or permit costs
If you need certain equipment occasionally, renting is a friendlier option budget-wise. Need equipment? More here for construction equipment rentals.
Myth 3: You Can’t Deduct Taxes From Rentals Fees
Actually, rental fees for equipment are a tax-deductible expense. This can be included on your tax return with any extra added costs for renting the equipment.
This can include any delivery fees, insurance costs, operating costs, permits, maintenance, or supply costs.
If you rent a piece of equipment multiple times, you’re not just paying for the first time you rent. Every time you rent equipment, it saves you a lot of money when tax season comes around.
Renting is a Viable Option to Save Money
When it comes to construction equipment, renting is a viable option to save money for your company. Specialized equipment can be costly, and most likely, you won’t be using it much throughout the year.
Plus, You won’t have to worry about maintenance fees and upkeep. If you are interested in getting the job done while keeping your budget in good standing, consider These pros of renting construction equipment.
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