Mark Ackroyd: How is renting construction equipment better than owning it?

1. Mark Ackroyd: How is renting construction equipment from National Plant & Equipment better than owning it? Construction equipment is an important part of any real estate project. Every project needs equipment and machinery for timely and precise completion of the project. However, it may or may not be profitable for a company to buy all of the equipment. Apart from some basic machines and tools that are required in all the projects, every project has specific needs. A machine used in a certain project may not have utility in another project. In this scenario, renting the equipment can be a great idea. A thorough analysis can help in determining if renting can be beneficial over ownership. It doesn’t depend on the size or structure of the business. Even big businesses can take advantage of renting equipment. If you are looking for National Plant & Equipmentrental, let’s have a look at

2. some benefits of renting the construction machinery as stated by Mark Ackroyd: •No initial investment There are some big machines used for construction such as excavator, tracked dozer or a telehandler which are expensive ones. These expenses need a budget that must be planned. When you buy a piece of big machinery, the capital gets blocked. Also, when you keep it for a longer time and plan to sell, the returns will be lower than expected. When your money is not blocked with these capital expenses, the funds are free and can be utilized elsewhere if the need arises. •Reduction in expenses Yet another benefit of renting the machines is that you need not spend on maintenance and repairs. On the other hand, when you own a machine, you need to maintain and get it repaired in case of breakdown. You may incur a significant cost of replacing parts and upgrading the technology. While it is difficult to estimate how much you may have to bear for the repair and maintenance, the rentals are fixed. •No hassle of storage When you rent the equipment you need not bother about the storage space. If you buy new equipment, you certainly need a place to keep it safe and secured. When you rent the machinery, you can keep it at the site of construction and return it when the project is complete. You need not arrange for a special place. Also, the cost of transportation can be reduced as you need not transport the machine from one place to another.

3. •Strong borrowing power Not many businesses think this deep but they should know that rental expense is not seen as a liability on the balance sheet unlike buying the machine. And the aging machine can weaken the overall financial picture of the business. •Reduce waiting time When you buy equipment, you may have to wait for a while to reach the site of construction. It often leads to wastage of time and keeps people waiting. The waiting time often affects profit and prevents them from meeting the deadline. When there is a rental agreement. It is on- demand delivery and pickup for the exact time frame. The professionals maintain and service the equipment, it is not likely to fail or waste the job hours. •Competitive edge If you are a small or new business in the market, you need not lose on good clients because you can’t afford to invest in the newest machinery and technology. Renting from National Plant & Equipment helps in getting access to the latest, diverse, and efficient fleet of machines just like the bigger companies. According to Mark Ackroyd, renting the machinery frees you from the long term commitment. If you are hesitant about long-term obligations, you must go with renting.