The bigger the job, the bigger the tool. If you’re a contractor, regardless of what kind of work you do, you know that as you grow and tackle bigger jobs, you will need to invest in heavier and more expensive equipment.
Luckily, for those looking to maximize their investment while reducing costs and maintaining financial flexibility, rental equipment has become increasingly popular among contractors.
In fact, according to Andy Agoos, 40% of all construction equipment used in the United States is rented, and that number continues to grow, causing him to predict that rental equipment utilization will surpass 50% in just a few years.
Similarly, Construction Executive notes that between 2013 and 2014, the rental rates for those contractors surveyed increased by 75%.
As an industry leader in rental equipment supply services, we know a thing or two about the best equipment to rent. That’s why we wanted to take some time and explore the various ways that renting equipment makes sense for businesses and projects of all sizes. From compact construction equipment rental to landscaping equipment rental, there is sure to be an available solution for your equipment sourcing needs. So whether you’re unsure of the rate of future growth, are in need a piece of equipment for only short term use or simply want to become familiar with a piece of equipment before you invest in a purchase, rental equipment may be the best solution for you.
When Renting Makes Sense
Before we break down some of the specific types of equipment that are available for rent from MacAllister Rentals, let’s first look at some of the reasons renting makes financial sense.
1. You only need the piece of equipment for a short period of time: One of the most common reasons for renting equipment is because businesses don’t plan on using it for an extended period of time.The best way to determine if renting or owning is more cost effective is to estimate utilization for an individual piece of equipment. Utilization is calculated by assuming that 100% utilization means using a piece of equipment 22 days or 176 hours per month.
Andy Agoos notes that if you plan on using equipment for less than 40% of the time, renting is the most cost-effective option. If you plan on using a piece of equipment between 40 and 60% of the time, whether to rent or own depends on the size of your business. A small business that might not be able to afford the liability of owning a large and expensive piece of equipment would likely benefit from continuing to rent in this situation. A larger company however is likely to benefit from owning. Only if use is to surpass 60% should a small company consider owning a piece of equipment.
Don’t be afraid to calculate your usage before investing in equipment. If you’re under that 60% threshold, not only is renting less of a hassle, it is the most affordable choice.
2. You’re worried about risk: Smaller operations benefit from renting because they often cannot risk the enormous costs of unexpected repairs. With rental equipment, that risk is outsourced instead. Similarly, smaller businesses cannot afford the liability that comes with the potential for injury, especially at the hands of faulty equipment.Rental equipment isn’t just owned by someone else, it is also someone else’s responsibility. There are regulations in place to ensure that rental services are responsible for providing you with working and safe equipment. As a renter, you reap the benefit of having someone else worry about those issues, leaving you to worry about getting your team to work.
3. You cannot afford downtime for repairs: Another benefit of renting is the elimination of the potential for costly downtime. If you’re an operation that can only afford one piece of a certain type of equipment and you own it, you run the risk of devastatingly costly downtimes if that machine goes down.Because repairs and maintenance are the rental supplier’s responsibility, you don’t have to worry when a machine goes down. Furthermore, since most rental suppliers own fleets of each type of equipment, if there is an issue with a rented piece of machinery, it can be easily replaced while the malfunctioning equipment is repaired.
4. You can’t keep up with environmental compliance: Similarly, renting also allows you to outsource the anxiety about compliance with environmental regulations. As emissions and pollution regulations have become stricter, it can become time consuming and costly to ensure that your fleet is in compliance. By renting, you’re putting that responsibility on the rental service provider, giving you one less thing to worry about.
5. You want to always have access to the latest equipment: While most heavy-duty equipment is designed to be durable and long lasting, technological innovation continues to transform the construction machine industry. By renting, you can ensure that you’re always using the most up-to-date equipment. Because many of these innovations are designed to make work easier and more efficient, this is another way to cut costs.
5. You cannot currently afford a down payment: Because heavy-duty construction equipment is so expensive, down payments can be significant. There are many reasons why a company, large or small, may be unable at a given time to make the kind of down payment necessary to own a piece of heavy-duty machinery.With a rental, you’re not responsible for a down payment. That means that as long as you can make the rental payment, you can afford to use the equipment.
6. You don’t have stellar credit: There are a lot of reasons why responsible business owners can find themselves with temporary bad credit. Unfortunately, when it comes to purchasing equipment, your credit score can have a big impact on what is available for you. Luckily, when renting equipment, you have more flexibility.While your credit matters when renting, especially when it comes to various financing options, there are more ways to work around bad credit when you’re in the renter’s market. Many companies who are in a temporary financial rough patch turn to renting as a way to keep projects moving forward without having to pay absurd APRs on purchased equipment.
Furthermore, renting equipment will not influence your credit-to-debt ratio, which is an important number when computing your credit score. Finally, when renting, your equipment is not considered an asset, and is therefore not taxable. In this sense, renting is more than just an option while you work your way out of subpar credit, it is a means to do so!
7. You don’t want to tie up capital: Finally, renting lets you retain more liquid capital, rather than tying that capital up in ownership costs. Many larger companies, despite having the capital available to be able to invest in equipment ownership nevertheless opt for renting because it gives them a larger degree of flexibility moving forward.
Importance of Operator Training
One of the largest concerns and hesitations with renting heavy-duty construction equipment is safety. Because owning equipment requires a wide range of safety certifications, there is oversight in place that ensures that companies using this equipment are well-trained and thus capable of reducing damage to property and accidental injuries to employees.
While many of these safety regulations are not required when renting equipment, safety training is still just as important when it comes to reducing accidents and property damage. That’s why we offer exhaustive operator training as part of our rental package. Because we don’t want to see anyone get hurt while using unfamiliar rented equipment, we offer the kind of training proven to keep workers safe.
Specifically, we offer both ANSI aerial lift training and OSHA telehandler training. These trainings are all performed by certified instructors who have extensive experience with both safety regulations and on-the-job common sense.
However, we are also committed to connecting our clients with other training opportunities on machinery for which we do not offer in-house training.
We are committed to the safety of Indiana and Michigan workers, and are happy to do our part to make sure that you’re equipped to operate our machinery safely. Not only will it ensure that your job site is accident free, but it will also help you get the job done right the first time!
Types of Available Rental Equipment
Now that we’ve discussed the many reasons why renting makes economic and administrative sense, we want to further explore the various types of equipment that are available for rental. In the process, we hope to give you a clearer idea about the type of equipment you can expect to use regularly — and thus should perhaps be purchased — and what types may be used more sparingly and therefore should be rented.
Here is a list of some of the best construction equipment to rent.
Aerial Lift Rental
Aerial lifts have a number of uses and come in a variety of forms. Here at MacAllister Rentals, we offer a wide range, including both boom lift rental and scissor lift rental. These machines are ideal for helping you move personnel into the proper position in order to complete hard to reach jobs. We offer JLG and Genie brand lifts, which are widely regarded as the most reliable and versatile in the industry. So if you’re looking to reach into the air and need a lift rental in order to enable you to do so, look no further than MacAllister Rentals.
Telehandler lifts are essential for jobs that require a long reach without a large base. For those who need to extend their work over long distances or from precarious positions, a telehandler is often the best option. Whether you’re looking to move people or to use a forklift attachment, telehandlers are versatile tools. Furthermore, these are tools that are often only required in specific topographical situations, so they are especially good rental options.
While many companies that utilize forklifts do so with enough regularity that they invest in owning them, there are still many situations when renting a forklift makes a lot of sense. A job that requires a larger fleet of forklifts than is currently owned is an especially common situation.Here at MacAllister Rentals, we offer forklifts from a wide range of brands, including Caterpillar, JCB and Harlo. Similarly, depending on the lifting capacity that you require, we also have a variety of forklifts designed to meet different size requirements. So no matter what kind of specifications you prefer, we are likely to have the forklift you need for your job.
Landscape Equipment Rental
While full-time landscapers are likely to own their own equipment, from time to time, contractors are called in to do some light landscaping as part of larger construction projects. In this case, landscape equipment rental is a great way to provide full-service without investing large amounts of capital in a full-service equipment fleet.We offer a wide range or landscaping equipment for rent, including:
- Light compaction equipment
- Landscaping tractors
- Mortar mixers
- Paver saws
- Sod cutters
- Straw blowers
- Stump grinders
- Vibratory plows
- Two man augers
Additionally, we offer a wide range of either wheeled or tracked Skid Steer rental options. Because Skid Steers can connect to a wide variety of attachments, which may only be used occasionally, going the rental route with this equipment is an especially good idea.
Regardless of what kind of job you need to tackle, if you’re looking to do some landscaping and you don’t want to spend a large chunk of change sourcing the necessary equipment, look no further than MacAllister Rentals.
Here at MacAllister Rentals, we specialize in the highest quality Caterpillar backhoes. These versatile tools can either be equipped as earthmovers or utilize a hammer on the rear boom. Because this kind of equipment is so expensive, renting a backhoe is an especially good option for smaller companies looking to limit liability or capital tied up in purchase costs.
Track Loader Rental
Compact track loaders are great tools for big jobs contained on small sites. These versatile earthmovers are especially common during home construction for digging out foundations and grading real estate plots. Because the need for a track loader varies depending on the terrain navigated during construction, many homebuilders opt for renting a track loader when needed rather than investing in one.
Excavators come in a wide range of sizes with an equally wide variety of reaches. That’s why so many contractors opt to rent excavators rather than buy them. The best excavator for the job will vary depending on the terrain and the requirements of the task, so while you may use an excavator regularly, it is possible that you will need a different type of excavator for your various jobs.At MacAllister Rentals, we also specialize in the highest quality Caterpillar hydraulic excavators. As far as standard excavators, we have models that range in max reach from around 28 feet to 38 feet we are sure to have an excavator that meets your particular specifications.
We also offer close radius excavators, long reach excavators — with maximum reach specifications of over 60 feet — as well mini excavators for those jobs that take place in tight quarters.
In other words, we have the same range of excavators available for rent as you have jobs that require different tools for different needs.
As you can see, we take construction equipment rental seriously. We know that there are so many tools available on the market, and when those tools are used well, they are often the difference between a job done well under budget and a job plagued by cost overages and missed deadlines. By partnering with MacAllister Rentals, you’re sure to find the right tool for the right job, regardless of what kind of construction field you’re in.
Why You Should Trust MacAllister Rentals
If you’re looking for equipment rentals throughout Michigan or Indiana, we have the most up-to-date, best maintained and best serviced equipment available.
Here at MacAllister Rentals, we have spent nearly 20 years perfecting the art of equipment rental. But rental supply is not our first business. MacAllister Rentals is a division of MacAllister Machinery. We developed this division as a way to meet the growing demand for highest-quality and most reliable rental equipment. Since moving into the rental business, we have remained committed to providing the same care and reliability that all our customers at MacAllister Machinery have come to rely upon.
While we are known as the official Cat rental dealer for Indiana and Michigan, our available rentals and expertise extend beyond Caterpillar brand equipment. We also supply JLG, Sullair and Pro-Tec equipment along with machinery from 50 other industry leading manufacturers.
Additionally, if you find that you’re ready to invest in owning a piece of equipment that you have previously rented, we offer a wide range of certified used equipment. This way, you can reap the benefits of owning your equipment without the full cost of initial investment. It’s a great way to split the difference between renting and buying new. Regardless of the size of equipment you need, you can find considerable savings by buying used.
We also offer a number of financing solutions to help you find a rental arrangement that works for you. We offer corporate accounts for qualified applicants. With a simple credit check, you can find the flexible financing that is only possible through a corporate account. If you would rather fill out this type of paperwork in person, credit applications are also available at any of our MacAllister Rental locations. In addition, we also offer the Cat AccessAccount. This flexible and cardless financial option is perfect for those who work exclusively with Caterpillar equipment, as this account can be used at any Cat dealer or rental store across the United States.
Either way, we are committed to finding the best and most cost-effective way to help you finance your rentals.
If you’re ready to explore our many rental options, spend some time browsing through the wide range of machinery that we have available to rent. To get started renting equipment with MacAllister Rentals, contact us today. Our courteous and professional staff eagerly awaits hearing from you, and we will promptly connect you with a local affiliated dealer in order to help you find the right tool for the right job.
So if you want to reduce your overhead, utilize a specific tool for a limited time or you simply want to retain the flexibility and low-maintenance associated with construction equipment rental, look no further than MacAllister Rentals. Channeling well over half a century’s worth of experience in construction equipment retail into the rental supply market, we are poised and honored to be Indiana and Michigan’s leading supplier of rental equipment. You can rely on us, and we look forward to supporting your work for years to come!