What are the advantages of hiring construction equipment?

 

Why hire construction equipment?

A question that we are regularly asked by new customers is “Why would I hire equipment rather than just buying it outright?”

Having been in the industry for many years we think it’s obvious, but we can understand how people maybe overlook the benefits. That’s why we thought it would be good to take the time to explain to our customers and other key stakeholders just why ‘hire’ is such a good concept, particularly when talking about hiring construction equipment.

Here is a quick explanation of why the construction industry is so in love with hiring.

Advantages of hiring construction equipment:

Low risk, increased safety
By ‘sub-contracting’ out the provision of equipment to a rental company, the responsibility of the equipment being compliant and ready to use is placed with them – lowering the risk for the contractor or customer. Therefore, the rental company is more likely to keep the equipment fleet up-to-date and regularly serviced. (Eg. recently inspected to LOLER or PUWER standards.)

More cost effective
Renting construction equipment is a better financial decision as it requires minimal upfront investment. This is particularly important if you are completing a specific task or project and you’re not likely to use a specific piece of equipment again.

Low / no maintenance
By hiring directly from an equipment supplier, the cost of asset management and equipment maintenance is with them. Not only does this mean you don’t need to invest in equipment to clean, repair and repaint the equipment it also means you do not need space for storage or suitable lifting equipment to move it around a storage facility.

Equipment disposal
If you hire equipment you are obviously do not have to worry about selling or disposing of the equipment when it is no longer useful to you. The hassle that is associated with this process, using auction sites or similar, often results in a low return on investment and not realising the true value of the equipment.

Radical industry changes in the equipment rental market

In recent years, leading global hire companies have gone from strength to strength following an increase in demand from the construction consumer and B2B construction hire market.

Through our experience and from speaking to industry leaders we have drawn conclusions on why we have seen this increase:

  • Increase in technology such as the use of BIM, Virtual Reality and project management tools allows contractors to plan processes meticulously and ensures project teams can plan the exact time frame that they will need a piece equipment on site.
  • As government bodies and pressure groups emphasize the need for the construction industry to modernise, contractors are looking at ways to reduce their environmental impact. By hiring equipment contractors are helping to reduce the overall amount of equipment that needs producing, therefore reducing their carbon footprint.
  • Time is money. Contractors are now driven by achieving a project on time rather than paying the lowest price for their equipment. 10 years ago, the attitude was “where can we buy this cheaper?” Now construction supply chains are driven by the ability to build sustainable relationships with suppliers who are prepared to understand their challenges and collaborate with them to deliver an efficient service.

Why hire with Conquip?

This is a question we ask ourselves every day. Seriously. We have a mission to be the partner of the first choice for our people, customers and suppliers. That’s never more at the forefront of our minds than when we’re issuing a hire contract.

Being successful in the equipment rental industry is about an honest, reliable service and delivering an excellent customer service. Most importantly it’s about a true partnership with the client.

Here are some of the reasons why our clients hire from us:

Quality equipment
Conquip offers the most up-to-date equipment fleet in the UK. All equipment is thoroughly inspected after every hire contract and issued with a relevant certification, either LOLER or PUWER. After a contract is complete, the equipment is repaired, refurbished, cleaned and repainted to ensure the equipment is the safest and best functioning equipment available in the market.

Regular finance reporting
Available on request, the accounts team provide regular on-hire reports to our customers, so they can efficiently track exactly what is on hire to ensure efficient use of equipment on site.

First class delivery
Our equipment is delivered on our FORS Gold registered vehicle fleet and our team are proficient at working with some of the largest infrastructure projects to meet their safety and scheduling requirements, in some cases liaising on a 72 hours book-in service.

No hidden charges
One thing that people hate more than anything else is hidden costs. In the hire industry, this translates to ‘cleaning charges’ and ‘damage charges’. (Charges that firms berate you with charges long after the equipment has been off-hired and returned).

At Conquip, ‘additional charges’ are not in our vocabulary. We do not charge for cleaning and we offer a £100 damage waiver, so you’re not going to see any unnecessary or unexpected charges.

Competitive rates
We pride ourselves on providing equipment at competitive weekly hire rates and sensible delivery rates. We know we’re not always the cheapest, but we also know that our equipment is the best available.

What are your thoughts on construction equipment rental?

It’s clear that hiring construction equipment can be extremely cost efficient for many companies, in some cases improving cash flow and reducing the need for ongoing equipment maintenance and asset management.

Obviously, this is just our opinion, we’d love to hear your thoughts on whether you agree with us on the advantages of hire. Drop us an email at marketing@cqegroup.com

Alternatively, if you want to find out the full range of equipment that Conquip offer for hire, click here