5 Tips to Rent Equipment at The Best Rates

Construction equipment and machinery are essential tools to ensure the completion of construction projects. Aside from staff overhead costs, the rental expenses of equipment and machinery are probably the largest chunk of a project’s total expenditure. Therefore, it is paramount for contractors and procurement managers to source the required equipment and machinery at the best rental rates to ensure the profitability of their projects. 

In this blog, we shall discuss how you can always get the best rates for construction equipment and machinery rentals in Singapore. If you are the main contractor, procurement/purchaser, or quantity surveyor, this is a must-read! 

5 Equipment Rental Tips That You Need To Know

1. Rent The Right Fit Equipment.

Before renting any construction equipment or machinery, you should always study the nature of the project and clarify with your job site personnel on the best type of equipment for the job.

For example, if a scissor lift is sufficient for your job, it is not necessary to use a boom lift. Scissor lifts are always the cheaper option due to their abundance of supply in Singapore, and relatively low equipment purchase price. Similarly, if a 3T excavator gets the job done, there is no need to rent a 5T excavator which will be more expensive. This principle applies to all other types of equipment rental too.

Equipment salespersons will always recommend to users what they only have. Some may recommend unnecessary higher capacity equipment to you if they do not have the exact fit for your requirements. Hence, it is crucial to have a good study to rent the right fit of equipment for your projects. Otherwise, you may potentially pay much more than you need to.

Read: Equipment Rental Guide

Not sure which equipment is the best for you? Contact our Antbuildz.com equipment specialist for a FREE consultation today!

2. Source from More Than Three Suppliers In The Market.

Yes, comparing three quotes is the standard procurement protocol. But did you know? In Singapore alone, there are already around 40 - 50 MEWP (Mobile Elevated Working Platform) rental companies, and more than 70 forklift rental companies operating. Just comparing three quotes will not get you the best market rental rates.

For the same piece of equipment, it is highly advisable to always compare your options and request for quotations from multiple equipment suppliers. Some key factors to compare include equipment rental rates, supplier reputation, service level agreements, any hidden rental terms, etc.

Sourcing for rental quotations is extremely time-consuming, and even more so if you intend to compare more than three quotes. Not to mention, all the further clarifications and negotiation of terms that are part of the process too. 

Also, don't rent equipment last minute! Always source earlier. Otherwise, you will lose all your bargaining power due to high urgency.

Is there an easier way? Yes, Antbuildz.com has the best solution for you! You can now Search, Compare and Rent any type of construction equipment from our nationwide Rental Partners in just a few clicks! 

3. Consider Other Compatible Brands and Models.

Most scissor lift and other MEWP users only recognize Genie as it is the most popular brand for MEWPs, especially in Singapore. However, just like a car, there are always other brands that manufacture products of similar range and capacity to compete in the market. The same goes for scissor lifts and other MEWPs, there are other well-known high-quality brands too such as JLG, Haulotte, Skyjack, Manitou, and even Chinese brands such as Mantall that offer the same products.

Rule of thumb: Don't restrict your rental options to only a certain brand. There are other available brands and models that offer the same quality with similar specifications. You have a great chance to secure a better rental rate by comparing different brands.

Of course, the same philosophy applies to excavators, forklifts, site dumpers, and other types of general equipment as well.

With Antbuildz.com, you can compare all types of equipment brands and models in just a few clicks!

4. Look For Rental Suppliers that offer Flexible Rental Durations

The typical anchor equipment rental rate benchmark is based on the monthly rental rate. However, things can become tricky when you require to rent short-term (e.g. a day or a week). There are many rental companies that prefer to focus on long-term rentals only. So, when these companies received a short-term rental request, they will typically offer quite an expensive short-term rate or even outright reject the rental request. 

Renting equipment for the short-term with reasonable rental rates might seem difficult. Fret not, all equipment listings on Antbuildz.com comes with a daily, weekly and monthly rental rate to ensure the most flexible rental durations for you!

What are you waiting for? Check out Antbuildz.com today!

5. Purchase Equipment Rental Insurance

When you rent a car, you are definitely required to purchase car insurance. In the event of any accidents during the rental period, the car insurance would cover the user for any potential damage repair costs.

However, in Singapore, you are unable to purchase such insurance for any of your equipment rentals. For short-term or even monthly rental equipment users, you are exposed to very high equipment damage risks. There is no such insurance product available, unless on an annum or bulk-coverage-for-project basis.

Accidents can happen in a split second, and the cost of repairs or replacements can easily wipe out months of hard-earned profits. With Antbuildz.com, you can be assured your equipment rental damage risk is covered by us.

Be it one day only or months, every equipment rental made on Antbuildz.com will be protected with Antbuildz Machinery All Risk Insurance that offers up to S$15,000 first loss coverage. We are the only company in Singapore that covers you with equipment rental insurance!

Read Also: Why is Insurance So Crucial for Equipment Rentals?

Conclusion: Antbuildz.com does it all for you!

If all the above discussed sounds like a hassle to you, why not try out Antbuildz.com? We have done all the hard work for you! With Antbuildz.com, you can: Search for equipment online, Compare prices, alternative brands, equipment specifications, print quotations instantly and Rent in just a few clicks!

If you have any special requests or require niche and uncommon equipment, we are also able to utilize our nationwide network of rental partners to source for specific equipment and even operators at the best rates for you!

Not sure which equipment is the most suitable for your job? You can always speak to our equipment specialist for a FREE consultation before reserving your equipment on Antbuildz.com!