How To Keep Costs Down When Renting Equipment For Your Contracting Business

Posted on: 8 January 2015

As a contractor, you are probably always looking for ways to run your business as well as possible while saving money. Renting construction equipment is a good way to cut costs if you don't want to spend all of your capital on purchasing heavy equipment, but it can still get expensive. If you're looking for ways to cut costs while still renting the equipment that you need, try these tips:

Pay With a Credit Card

There are two good reasons to pay for your equipment rentals with a credit card. First of all, if you use a card that allows you to earn cash rewards, you can get a little bit of your money back. Plus, you can avoid having your capital tied up in your deposit. Since it can take a little while for you to get your deposit back, it can be nice for it to be held on a credit card rather than with the debit card that you use for day-to-day operations.

Refuel the Equipment Before Returning It

Many equipment rental companies charge a fee for refueling, and these costs can be significant. Check your contract to find out if you are supposed to refill the equipment with fuel upon returning it. If so, make sure that you take this critical step to avoid added fees.

Strike Up a Deal

If you rent a lot of rental equipment for your business, it's a good idea to rent it all from the same company. Then, you can ask for a discount for taking all of your business to one company. Many companies like to reward loyal contractors who come to them for all of your equipment rental needs. If nothing else, you can at least count on getting the best-quality equipment and enjoying other perks by taking all of your business to one place.

Check Your Insurance Policy

Many equipment rental companies offer insurance coverage for an additional fee. This can be a good idea so that you aren't stuck paying for the damage if it occurs, but it can really cause your rental bill to rise. Luckily, many business insurance policies will cover this equipment while you're on the job site, so check your policy before paying extra for insurance through the rental company.

If you' want to save as much money when renting equipment for your construction company, then you should keep these tips in mind. Then, you can increase your profits while still renting the equipment that you need to tackle all of your jobs.

Need more help? Have other questions? Contact a company such as Thompson's Grand Rental Station Inc. with any questions you have.

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No Place Is As Important As Where You Live

I'm Maryann Delgado and I am very happy with the success my life has brought. One thing I have learned is to never underestimate the importance of your property, whether it is a storefront or your home. We spend the majority of our time in our homes, working and living our lives. I have visited many properties that just feel off. Those who live in work on these properties don't understand the changes that can be made to how they construct their buildings. I have had to learn everything I can about construction in order to build my perfect home and I have many lessons I'd love to teach to others.

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