Cost Saving Tips You Should Know before Hiring Construction Equipment
Hiring equipment is an unavoidable part of every construction project. Naturally, these costs account for a sizeable component of the project cost. If a project’s 40% cost is spent on equipment rental, just a 5% savings on equipment rental can translate into an additional profit of 2% for the project. If this doesn’t sound like a lot, please be mindful of the fact that many construction projects operate with a profit margin of only around 10%.
If you have a construction project in hand, the tips mentioned below can help you make major savings on hiring construction equipment. Interestingly, you can save money during all stages while dealing with the equipment.
- Be sure to order the right of equipment for your specific requirement. Don’t go for the bigger model unless you can utilise the extra capacity. On the other hand, a smaller size may prove to be inadequate for your work.
- Instead of opting for older and cheaper models, opt for reliable machines. Older models tend to break down more often, consume more fuel, and lack the latest safety features.
- Check the coverage of the rental rate. In some cases, cheaper rental are not great options when all the additional costs are factored in.
- Always opt for equipment that is insured.
- Before you start discussing with the rental company, try to figure out the probable duration of the rental period. If your rental duration is longer, it may be possible to get a reduced rate.
- Most equipment rental companies charge penalties or late fees in case of delays in returning the same. Examine this clause carefully before hiring the equipment.
- Check thoroughly to ensure that the right equipment has been sent to your project site. Returning an incorrect item by reorganising transport can be an expensive affair.
- Check the equipment thoroughly and report immediately if there is any visible damage.
- Check the condition of the equipment’s all wearing parts because you could be charged later for replacing these parts.
- Check the tires carefully because hirers are generally held responsible for damaged or worn tires.
- Make sure there are no oily leaks in the equipment and the vehicle has all the safety measures in functional condition.
- Always ensure that the machine is only operated by an experienced and licensed operator. Use of non-qualified operators may damage the machine, void your insurances and warranties, cause accidents, and reduce the productivity of the project.
- The equipment must be maintained properly and only qualified people should be engaged in its repairs and maintenance.
- Never use the equipment for jobs it was not designed to perform.
At the End of the Rental Period:
- Notify the rental company in writing that the job has been completed and the equipment is no longer required.
- Make sure that along with the equipment, all associated rented items are also returned.
- Before handing over the equipment, check and record its condition in presence of a representative from the rental company.
Finally, if you are looking for best rates for construction equipment in Australia, please take a look at the website of K & G Machinery. We are one of the most preferred destinations in the country for a wide range of equipment rental.