Rental Management 101: Introduction to Rental-Module 2: Why Renting Makes Sense

Video Transcription

Video Summary

The video explains why renting equipment makes sense from a customer's perspective. In the past, contractors preferred to own their equipment, but with changing circumstances, renting has become more popular. Factors driving this growth include economic uncertainty, shorter duration of projects, new technology, limited capital budgets, and the need to preserve cash. Renting allows customers to push the risk and responsibility of capital expenditure, maintenance and repair, storage, logistics, and disposal onto rental companies and dealers. Renting also provides financial benefits, such as short-term financial obligations, the ability to bid on different types of projects, convenience, access to newer technology and better product support, and the expertise of rental companies and dealers. Overall, renting equipment offers customers flexibility, cost control, and convenience.

Keywords

renting equipment

customer perspective

economic uncertainty

limited capital budgets

financial benefits