5 Things to Consider When Renting Construction Equipment

The real estate industry in Singapore has yet to see an increase in its demand for real estate whether for residential or commercial purposes. Having said that, there will be more construction going on in the city state until the first quarter of next year. Therefore, more and more construction equipment supply will be needed and because of this, businessmen and construction companies are realising the value of renting the equipment, which helps maintain costs and retain huge capital investments. The decision to rent the construction equipment is not as easy as it seems. One has to take into consideration several factors when renting the machinery. Though these steps look daunting, if followed cautiously can save you from a lot of trouble in future. Thus, once you have made up your mind for construction equipment rental in Singapore, follow this step-by-step guide for hassle-free renting process: 1. Figure out the dates and machines required Before contacting the rental company, you need to figure out which exact equipment and tools you need for the specific project as well as the timeline how long are you going to need it for. Find out if the job requires earthmoving equipment or aerial work platforms. Also, there are many model and size of each equipment so knowing your exact need will help in choosing the best equipment. 2. Explore options After listing your requirement, it’s time to explore various suppliers for renting the equipment. While choosing the rental services the cost becomes a primary factor. Usually, the rental companies offer construction equipment on daily, weekly, and monthly rental rate. The second factor is the distance between your project site and the rental company. The greater the distance, the more expensive the delivery cost. While few suppliers have fixed delivery rate, others have variable rate depending on the distance. 3. Additional costs Apart from the basic rent and the delivery cost you might incur some other costs. Few companies charge environmental fee or fee associated with equipment insurance. Discuss with the rental company about all the other costs that you may incur during the duration of the rental. So, you may have a thorough understanding of all the costs related to renting and allot ample budget for it. Also, ensure you return the equipment in good condition else you would be charged extra. 4. Selecting the supplier After completing the research for potential suppliers, the construction company can pick the right supplier which best fits the needs at a competitive price. Try to strike the best deal with the supplier by promising future partnerships and lasting business relations. You can also crack better deals by referring them to other construction companies. 5. Contract Once you have discussed the detail of terms and conditions with the supplier, you can proceed towards the legal formalities of signing the contract. In case of any queries, clarify with the supplier so that you don’t have to face any confusion in future. If you are looking for investing in any of the frequently used heavy equipment, explore the web for information on companies which deal with heavy equipment for sale in Singapore.