Should A Commercial Contractor Rent or Buy Their Equipment?
One of the biggest questions facing any commercial contractor is whether it’s better to rent or buy the equipment they use. This is a decision that can impact the customers of those contractors as well because the quality and type of equipment can have a major impact on the final quality of their projects.
In our view, the most reliable contractors will own most of their equipment. Either way, when you’re looking for a commercial contractor, it’s a good idea to ask them about whether they rent or own their equipment—along with their reasons for that choice. It can tell you quite a bit about what to expect when working with them.
Renting vs. Buying Commercial Contracting Equipment
- Financial reasons
Obviously, buying a large piece of equipment is a major investment. For smaller or newer contractors, renting is tempting because it means fewer up-front costs and generally predictable monthly prices. However, when a contractor owns their own equipment, that suggests that is financially stable. They have assets and a genuine investment in their business.
While not wholly indicative of quality, they’re going to be a bit more motivated to make the most of their purchases.
One of the big downsides to renting is that there’s no absolute guarantee that a piece of equipment is available when the contractor needs it—particularly if it’s a rush job, or in response to an unexpected on-site development. That could ultimately cause you significant inconvenience, or even extra costs if the contractor can’t come up with the necessary equipment on your timeline.
When a company owns their own equipment, and keeps their employees trained on it, that most likely will translate into better work. A construction worker will always be more proficient with a piece of hardware he has used it often.
For high-quality commercial construction, contact Donald Rushing Construction to discuss your next project!