No matter how small or large your contracting business is, there will come a time when you will need a tool on a job that you do not have. If you are only going to use the tool on one job, or if it is costly, buying it is not always the best option. Renting the tool from a local tool rental is sometimes the better way to go.
What You Can Rent
Tool Rental companies offer just about any tool you can imagine, and some that you may not have known existed. Rentals range from small hand tools to large tools like jackhammers and backhoes. The tools and equipment available from one business to the next are going to vary, but if you need a tool for a job and you can't find it, it is too expensive to buy, or you only need it for one use, talk to the rental company near you.
You might be surprised by what they have on hand or can find for you. Larger rental companies often have multiple locations, and if they don't have a tool in your area, they might be able to get it from another store or area in a day or two.
Equipment Cost Savings
The cost savings you will get from renting a tool is going to vary from tool to tool. If you are renting a small tool, you may not save a lot of money, but when you need something larger that is very expensive, the savings you get from renting the tool or equipment can be in the hundreds or even thousands of dollars.
If you need a skid steer loader for a job, buying one could cost you in the tens of thousands of dollars, but you can often rent one for a few hundred dollars a day. If you are a small business and can't afford to buy equipment like that yet, the cost of the machinery can be pasted on to the customer when the job is finished. Just make sure you include the cost of the equipment in the estimate you give the customer when you bid the job.
No Maintenance and Upkeep
Renting a tool or equipment for the job you are on also means that you do not have to worry about maintaining the equipment yourself. The rental company will take care of the maintenance, but if you break the tool while you are using it, you could be responsible for the cost of repairs. Check the fine print on your rental contract to see if you are responsible for these costs and check with your business insurance to see if rental equipment is covered.
If you're ready to rent, contact local construction equipment rental services.