Businesses that specialize in construction projects are probably wondering how to get rid of dust in the air and keep a site odor-free from waste. This is where dust and odor control systems come along, which are highly beneficial for your workers’ productivity and health.
Read on to find out which will work best for you.
Should You Buy?
If you plan to use the equipment over 65% of the time, then it’s best to buy it to use for the long term. This can affect the immediate opportunities to provide lower prices to clients.
When purchasing equipment, there are most likely tax benefits and amortized costs. Furthermore, owned equipment will be considered as assets, which adds to your balance sheets. They can always be sold during difficult times.
An added benefit of buying equipment is being able to dictate its pace and determine when it should be used. That said, take into account the transportation costs.
Should You Rent?
If you aren’t sure about whether or not you’ll be using an odor control system for the long run, then you can begin by renting it first. This can give you information on the overall cost and maintenance so you can calculate the payback period. This will also help you determine the efficiency production is with the system and how much it will be used for.
That said, rental expenses will be considered as business expenses, which will be deducted yearly. Renting is more beneficial if you don’t have enough funds to make an initial investment. Furthermore, when renting odor control systems, you can rent out the latest line of systems, not having to take into account the insurance and maintenance costs.
To Rent or Buy?
When it comes to heavy equipment you will use most times, like door control systems, they should be looked at a bit differently. They have lower interest rates and tax incentives, which is a lucrative choice. Just make sure you take into account the maintenance, storage, and transportation costs, which might affect the company’s cash flow, especially when you don’t use the system efficiently.
You can also rent out the owned equipment, provided that it comes with the correct insurances and you have enough to cover the operational costs.
If you will use the system for 22 consecutive days for over 8 months a year, consider buying it. But if the system is only required by specialty contractors to use just one time or temporarily, renting it will save you more.
Wrapping It Up
There are many factors to consider when it comes to renting or buying construction equipment, specifically odor control systems. But this equipment’s benefits can’t be denied in construction, which is why it’s a must-have during projects. Take into account how much you will use the system and if it benefits your workers and workflow in the long run to make your final decision.