Contractors use a variety of tools, equipment, and machinery throughout the course of a project. However, since tools, equipment, and machinery can be very expensive, it does not always make sense for a contractor to purchase all of these items, especially if some of them are only used occasionally. When a tool or piece of equipment or machinery is used on an infrequent basis or is only needed for a couple of days during a project, renting can be a much better option. In the long run, renting tools, equipment, or machinery can save a contractor a lot of money. If you're a contractor who plans on renting tools, equipment, or machinery to complete a project, avoid the following mistakes.

Failing to Get Multiple Quotes

While renting necessary contractor equipment, tools, or machinery costs a fraction of buying any of those things, that doesn't mean that it is cheap. Before renting anything that you need for a project, it is always in your best interest to get quotes from several different contractors equipment rental companies. Taking the time to do so can save you a lot of money, which can help ensure that you come in under budget for the project that you're working on.

Hiring the Contractors Equipment Rental Company with the Lowest Quote

Getting multiple quotes for your rental can save you a lot of money, but that doesn't mean that you should automatically hire the contractors equipment rental company that gives you the lowest price quote for your rental. It is important to think about value, not just price. When comparing prices, also consider the reputation of the construction equipment rental company, the brands they carry, and how well their tools, equipment, and machinery is maintained. The last thing you want is to go with the lowest quote only to receive tools, equipment, or machinery that doesn't work right or breaks down, causing delays in your project.

Neglecting to Read the Contract

It is always a bad idea to sign a contract with a contractors equipment rental company without reading the contract. Reading a rental contract may be tedious and boring, but reading each line will help ensure that you understand the terms of the rental, know exactly how much you will be paying, and understand what type of tools, equipment, or machinery you will be receiving for the rental period. If you do not fully understand the entire contract, ask question before you sign anything.