The Rental Advantage

As we reported in our February newsletter, many construction projects anticipated for 2024 are awaiting release due to an uncertain economy. Consequently, contractors are looking for ways to position themselves to take advantage of emerging opportunities while preserving their options. Many, we are finding, are turning to short-term and long-term rentals to fill that gap. In this edition of Experts Corner, our experts from KRents, Christine Palmer, Operations Manager, and Rental Sales Representatives Brad Robinson and Andy Crowder, outline five advantages of choosing the rental option.

1. Newer equipment means higher productivity.

Equipment has evolved significantly through the past decade. Having the latest technology on the job means lower costs, higher efficiency, and a more certain outcome.

Christine: Our rental equipment has all the latest automation features, so the rental option allows our customers to take advantage of that without the CapEx investment in new equipment. For specific projects, they might want to use IMC features to be extremely precise about the work and avoid rework. Those features help them dive through those projects.

Brad: The IMC automation platform provides a considerable advantage in project applications like grading. When you do your grade, you get your passes correct the first time, so you don’t have to go back and level it. So, that reduces the number of hours you’re putting into it and helps get the project done more quickly.

2. Contractors need to transition their workforces to automated equipment.

Construction equipment is in a transition stage where automated features are rapidly becoming the industry standard for many project applications. Renting state-of-the-art equipment allows companies to introduce their operators to the latest technology quickly. It also shortens the cycle of bringing new operators on board.

Andy: Equipment has changed, and that’s changing the operator’s job. Instead of using lasers and having somebody standing in a hole holding a stick, for example, everything is integrated into the machine. One of the advantages of our program is that we have a support team that can advise on applying the IMC technology in specific job scenarios. So, we’re very hands-on in helping companies transition to the new operating environment.

Another aspect of this is that it’s hard to find skilled tradespeople nowadays. The IMC features enable a person with minimal training to take on more challenging jobs. So, it shortens the onboarding cycle for new operators as well.

3. Rentals allow contractors to bid on more projects.

Many specs have very specific requirements that can only be met with the latest equipment. Rentals allow companies to bid on these projects without tying up capital.

Christine: Many of the contracts out there have various ESG requirements, especially for large companies and municipalities. So, it would be best to have the latest equipment to meet those requirements. Newer equipment has better fuel efficiency. We’re also getting more demand for hybrid machines from contractors wanting to bid on those projects—that’s one area where we expect a lot of growth.

Brad: The rental option keeps the asset off the customer’s books. They’re still able to use the technology, and part of that is reducing emissions. I’d also add that machines with automated grading are more efficient because you’re completing the work with fewer passes, which means lower fuel consumption and emissions.

5. Rental equipment is ready to roll.

With the rental option, there’s no need to worry about sending a machine to the shop to get it ready – you know you’re getting the latest equipment with the latest upgrades, fully prepped and ready to go.

Christine: We keep our rental equipment in top shape so that they’re job-ready at a moment’s notice. It also means that all the wear parts are all replaced well within the manufacturer’s spec, so you won’t have failures or downtime.

Brad: The machines we rent out are also “technology ready” to connect to either a Topcon or a Trimble system. Rental equipment comes with full maintenance support almost anywhere in Canada, which also covers the technology.