Cost Effective and Timely

Seasonal cycles affect many industries, and construction contractors know that well. As the weather warms up, especially in colder regions, increased requests for outdoor projects come pouring in. It’s a good problem to have, but it also means that some types of equipment or tools may be needed on a moment’s notice.

What construction contractors also know is that there are affordable and easy-to-use tool and equipment rental options at their disposal to complete clients' projects cost-effectively and efficiently.

“No matter the utilization of tools and equipment, renting can be a smart choice for contractors, especially when it comes to managing cash flow, optimizing usage and driving project efficiency,” said Nathaniel Brookhouse, senior manager of business development for The Home Depot Rental. “Renting also allows contractors to access the right tools and equipment without the long-term commitment of ownership. It’s a flexible solution that balances efficiency, cost and quality.”

For construction contractors, according to Brookhouse, the benefits of equipment and tool rental programs are straightforward:

• Equipment rental services offer flexibility, including access to specialized machinery, without the long-term commitment of ownership.
• Rental services can help meet specific project requirements by providing equipment tailored to each job.
• Rental services are cost-effective. If you look at the ROI, you must use the equipment or tool you bought many times to recoup the purchase price. With a rental, you are paying for a single use at a fraction of the product’s actual cost.
• Rentals are entirely maintenance-free. This creates another level of cost and time savings, and efficiency.
• Large equipment can be delivered to the job site, adding efficiency and productivity to your operation, especially in a busy season.

From companies like The Home Depot Rental, Brookhouse pointed out, there is always a wide range of the latest high-quality tools and equipment available. “We buy the most reliable products from the best brands, which means that construction contractors have access to tools and equipment that are high performing,” he said. “Our fleet team leverages long-standing relationships with OEMs to gain insight into the latest product advances for our standard offerings and new products.”

Through Tool Rental Centers in Home Depot retail locations, The Home Depot Rental also offers large equipment delivery directly to job sites in select markets. Included are truck rentals and heavy equipment for large commercial and residential projects. This fleet includes a variety of aerial (boom lifts, scissor lifts), material handling (extended reach forklifts, industrial forklifts) and earth moving (large skid steer, mini-excavators, trench rollers, etc.) machines.

Depending on rental volume, The Home Depot Rental offers national accounts to construction contractors. Those operations receive white glove service with:

• Dedicated support: Assigned outside and inside account managers.
• Pricing programs: Negotiated rates.
• Delivery options: Jobsite delivery in 48 U.S delivery markets.
• Expanded assortment: The ability to purchase core products through partnerships with the Pro Outside Sales team.

“The equipment and tool rental industry has experienced significant growth across categories for several years,” Brookhouse related. “That growth can be mainly attributed to expansion among non-residential and residential contractors, specialty trade contractors and MRO (Maintenance, Repair and Operations) contractors.”

According to Fortune Business Insights, one reason for the significant growth in the construction equipment rental market in recent years is the increase in government spending to upgrade the nation’s infrastructure. Coupled with the desire of construction contractors to take advantage of the cost effectiveness of renting equipment and tools and forgo ownership, the surge in construction activity is expected to continue driving demand.

Fortune currently projects that the global construction equipment rental market will grow from $121.92 billion in 2023 to $181.81 billion by 2031. With that increased activity will come greater demand for equipment. At places like The Home Depot Rental, Brookhouse noted, construction pros will have access to the tools they need to get the job done on budget and on time.