Factors that May Affect the Cost of Crane Rental Services

May 11, 2020

Different industries utilise cranes since they play a pivotal part in lifting and moving heavy objects, equipment, and other things on a given site. Since these cranes are important, contractors would do everything just to get hold of them. Some contractors would even purchase their own cranes. Others, however, would refer to renting cranes for them to save a significant amount of money.

With crane rentals, contractors have the luxury to just spend a little amount of money in exchange for the great functionalities and features of a crane. Nevertheless, there are still some things that may affect the overall cost of the crane rental service. To help you out, here are some factors that you should look out for when you hire some cranes for your project.

Site Location

The renting crane cost usually accounts for the distance of the sites between the depot for cranes and your project location. If the location of your project site can be found within a few blocks from the crane’s origin, then expect a cheaper rental fee. However, if you are far away from the crane’s origin, then you should not be surprised when a higher renting fee will be asked from you. You must also remember that the cost of a crane rental service will increase if your area is difficult to pass through. 

Crane Technology

Another factor that may affect your crane rental service costing is the technology of your preferred cranes. Numerous cranes have already added some features and technological advancements that are beneficial for industries that revolve in construction, freight loading and unloading, and many more. If you want to rent a crane that is equipped with the latest features and materials, then you may want to spend a little more money.

Additional Fees

When you rent a piece of equipment, a device, or any other thing for a certain amount of time, there are some fees and taxes that are associated with it. If the government decides to increase the taxes on crane rentals, then your rental fee will increase as well. The tax amount also depends on the type and model of the cranes. So, to avoid any hassle in processing your crane rentals, you may want to allocate some budget adjustments on crane taxes and other associated fees. 

Depreciation Value

One factor that affects the price of crane rentals is their depreciation value. The estimated rent cost of a specific crane normally revolves on its present cost. However, this specific cost tends to decline once the crane ages, making the value of the machine depreciate. If you have already acquired the rental cost of a crane a few years ago, expect this costing to drop a little more today due to depreciation. Given this fact, old cranes will have lower rent costs compared to newer cranes.

Company Performance

Crane rental companies may also rely on their performance for their rent costs. If a crane rental company has been hit by major economic struggle, it may have to increase the crane rental fees just to compensate for their losses. Some high performing companies, on the other hand, are willing to lower their rental costs just to serve their clients better. To ensure cost-efficient and high-quality crane rentals, you must fully check the fundamentals and financial standings of the crane rental company.

When you opt to rent some cranes, you must know the mentioned factors so that you can adjust your crane rental budget ahead of time. To know more about crane rental services, feel free to contact us at Adz Lift Crane Hire. We are a locally owned and operated company providing professional and reliable crane and rigging services based in Geelong. We cover all areas of industries that revolve around small domestic jobs to large commercial construction projects.