A key aspect of construction management is knowing where to spend money to ensure that overall well-being of the company. There are many people who make the mistake of investing in many different types of heavy machinery as soon as possible, even though they do not need to use every piece of machinery on a daily basis. Renting a piece of heavy machinery, such as a crane, may be a better option for you than investing in one right away. The following guide walks you through a few reasons why renting a crane may be better for your company than purchasing one.
There Are Many Different Types of Cranes
When you need to get a job done, you need to have the right piece of equipment for the job. There are many different types of cranes on the markets and you need to be sure that you have the right crane to get a job done. Tower cranes are great for building skyscrapers, whereas all-terrain cranes are ideal for conditions that are rocky or hard to get to. Being able to use the right crane for the job is essential, and rental companies often have every option available to you to ensure you are able to use the exact crane you need for the job.
Owning a Crane Requires You to Insure it
When you own any piece of heavy equipment, you must insure it. This can get quite costly, especially if an accident occurs during the operation of the crane. When you rent a crane, there will be a small cost you will want to pay for optional insurance. That means that the rental company will have to deal with the hassle of having the crane fixed if it is damaged during operation.
Owning a Crane Requires You to Store It
When you purchase a crane, you have to find somewhere to store it. Storing a crane is not an easy task to do because they are often rather large. You will more than likely have to pay for a storage facility to store the piece of equipment, which will add to the overall cost of owning it.
Owning a Crane Requires You to Maintain It
When you own a crane, it needs to be properly maintained to ensure that the hydraulics that are built into it are always working well. If the hydraulics are not working properly, the crane will not be able to lift items.
If you are not going to need to use a crane each and every day, renting one may be a better option for you financially. There are many rental companies that offer a loyalty program to regular renters so that you can still save money on the rentals if you rent from the same company again and again.