The construction equipment rental industry is estimated to be worth $22 billion in 2015 and is expected to continue to grow over the coming years due to the positive push in the building industry, meaning there is a potential from great profits for companies like LAX Equipment Rental. This is great news if you a new business owner who wants to start renting equipment that can be used to help meet the needs in the construction industry. However, even as you seek to buy new or used equipment, there are a number of factors that you need to consider in making sure that your construction equipment will last long enough to ensure sufficient return on investment especially since you might only be making 3 to 4 percent of the cost of the equipment per month.
So here are two things to consider ensuring that your construction is properly used and maintained for continued used without any accelerated depreciation rates.
Keeping track of usage
When you rent out the equipment, it can be difficult to keep track of what happens to it, especially if you are not providing an operator for the time in which it is involved in the particular project. That is one of the reasons why so many construction equipment owners seek to utilize the services of remote devices that can track the use or misuse of the equipment. Such devices can give you access to information such as how long the equipment is left idle, overuse of the breaks, or whether the equipment is being used too fast.
While an important feature of any good business relationship revolves around trust, it makes sense to have these safeguards so you can put a stop to improper and unsafe use of your construction equipment and get a better understanding of what type of maintenance work you are likely to need. Newer equipment is likely to come with these pre-installed.
Let the equipment fit the job
When running a construction rental company it is important to be aware and knowledgeable about what your equipment does and how best it is to be used. It can also make a difference knowing the location of the construction project and how well acquainted the contractor is with the area. This is because the blueprint does not always match the actual terrain and your equipment might be the thing to suffer for it. Note too, such details as size and type of machinery for the job as well as the possible effects of the weather and climate on the equipment.
Equipment should not be used to perform minor tasks or be used for jobs that they were not intended for in an effort to get the full day's work out of them. Instead your clients should be encouraged to fully calculate the time that they will need the equipment for so that they can more efficiently determine how to spend their budget. It is better to access the construction equipment for the hourly rate than for a full day if that is what is needed.
Share28 July 2015
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