The Rental Advantage

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The Rental Advantage

May 21, 2024

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As we reported in our February newsletter, many construction projects anticipated for 2024 are awaiting release due to market uncertainties. 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, we consolidate insights from our SMS Equipment Team on 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.

By renting machines from SMS Equipment, construction companies can get immediate access to all the latest automation features without entirely investing in new equipment. For specific projects, they might want to use IMC features to be really precise about the work, avoid rework, and improve timelines. Those features help them dive through those projects.

The IMC automation platform is especially strong in precise functions like grading. The advantage is that you get your passes correct the first time, so you don’t have to go back and level the grade. The integrated technology reduces the number of hours, decreases energy consumption, and helps complete the project 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 projects. Renting state-of-the-art equipment allows companies to introduce their operators to the latest technology quickly.

The key here is that automation is 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 renting with SMS Equipment is that we have a support team that can advise on how to apply the IMC technology in specific job scenarios. So, we’re very hands-on in helping companies transition to the new operating environment.

Another aspect is that it’s hard to find skilled tradespeople. The IMC features enable a person with minimal training to take on more challenging jobs. So, rental equipment can also help shorten the onboarding cycle for new operators.

3. Rentals allow contractors to bid on more projects.

Many specs have requirements that can only be met with the latest equipment. One thing our customers are finding is that a lot of the project specs out there have ESG requirements. We see this a lot with large companies and municipalities. So, you would have to have the latest equipment to meet those requirements.

There are several advantages of this newer equipment from an ESG perspective. Newer equipment has better fuel efficiency. Features like automated grading also improve efficiency because you’re completing the work with fewer passes, which means lower fuel consumption and emissions. We’re also getting more demand for hybrid machines where contractors want to bid on those projects - that’s one area where we expect a lot of growth.

The rental option keeps these assets off the customer’s books, but they can still use the technology to reduce 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. It also means that all the wear parts are all replaced well within the manufacturer’s spec so that you won’t have failures or downtime in the middle of a project.

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, which also covers the technology.

The Bottom Line:

Having the equipment you need for the job and knowing you can trust it to perform according to the manufacturer’s specifications is becoming essential amidst demanding clients and rising standards for equipment performance. The rental option enables companies to meet these exacting requirements immediately while preserving their capital options.

The Rental Advantage

1. Newer equipment means higher productivity.

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

3. Rentals allow contractors to bid on more projects.

4. Rentals supplement your fleet in niche areas.

5. Rental equipment is ready to roll.

The Bottom Line: