Of late, various industries are looking for a clear-cut solution for their material handling needs, particularly Warehousing and Logistic companies. They have begun to move out of the norm of having to maintain their equipment and are shifting to solution providers who can do the maintenance, upkeep of parts and monitor their maintenance schedules. This has led to more customers choosing to rent equipment rather than purchase their own.
Why did rental become a popular choice for many customers? Here are the Top Five Reasons why people are choosing to rent versus buy.
- Improved cash flow
Rather than tying up cash with a large up-front outlay or facing constant financing charges, rental expenses are not as expensive as investing in new equipment. It is immediately deductible and there are no related costs for warranties, insurance, transport or storage, freeing up even more cash. In short, a flexible OPEX trumps a high CAPEX.
2. Lower business risk
Obviously, renting does not involve a long-term financial commitment. You simply return the equipment when the contract is completed, and the payments are delivered. This eliminates the risk of expensive new machinery standing idle, depreciating in value and slowly becoming obsolete. Renting also increases the equipment’s up-time; because replacements are typically available immediately should rental equipment break down on the job.
3. Access to new equipment technologies
Renting is a cost-effective way to avoid equipment obsolescence and to add more efficient and emission-compliant machines to your fleet immediately. The latest equipment can enhance worker productivity and increase per-hour profitability on the worksite.
4. More time to focus on your work
Renting reduces the load of machinery service, repair, and insurance from your daily tasks, giving your team more time to focus on doing exceptional work. MHE-Demag offers a 360-degree customer service that can accommodate needs of the customer to ensure equipment uptime.
5. Improve Safety
Forklift owners must make sure the equipment is properly maintained and meets all the relevant safety requirements. Many workplace accidents happen due to negligence when it comes to equipment maintenance schedules and poor working conditions. With a rental, you can minimise the risks as all equipment will be maintained regularly by the rental company.
As the only company that can provide rentals for a range of equipment starting from Forklifts, Reach Trucks, Electric Stackers, Power Pallet Trucks, as well as aerial work platforms, MHE-Demag warehouse rental solution provides a one-stop solution for warehouse needs.
By giving competitive fixed monthly rates it is easy to budget your annual expenditure. MHE-Demag provides warehouse trucks with an uptime of at least 95% of the time with a stringent maintenance schedule and stock replacement parts for all its rental fleet.