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5 Tips for Renting During an Inventory Shortage

heavy equipment inventory

Inventory shortages have been affecting the equipment industry on the manufacturer and dealer side. Since in-stock inventory of both new and used equipment is selling so quickly, it may be easier for you to rent heavy machinery for your next project. Renting is not only a cost-effective option but a great choice if you won’t need the equipment for long. To help navigate this market demand, Equipment Trader has five tips for renting during an inventory shortage.

1. Understand the Job

Before you start your rental search, think about the project you’d like to complete and the equipment you’ll need for it. Will you be working inside or outside? On flat or unstable ground? Will you be moving earth or reaching up high? These are just a few questions to ask when planning your project.

Heavy machinery comes in different sizes, so you should choose a piece of equipment that will be most efficient on your jobsite. If you’re new to using and renting heavy equipment, you can also ask a rental dealer for suggestions on what machine can help you get the job done.

2. Be Open to Different Types of Equipment

Many types of equipment are incredibly versatile, which will be helpful in an inventory shortage. For example, you need to clear a plot of land, but there aren’t any bulldozers available. Instead, you can look into other types of equipment, such as excavators, that also have the power for land-clearing duties. 

You should also consider utilizing machine attachments that can make your equipment rental more efficient. You could complete multiple tasks on your jobsite with one piece of machinery and several different attachments.

3. Determine Your Timeline

Once you have an idea of the type of equipment you’ll need, think about how long you’ll need it to complete your project. One-time uses are the best situations for renting, as opposed to needing the machine more frequently over a longer period of time. Shorter rentals could also save you more money.

Whether you’re working on an agriculture, construction, or other type of project, delays and unexpected changes can often pop up on a jobsite. Make sure to factor some cushion time into your equipment schedule. 

In an inventory shortage, you may need to be flexible with your rental dates to accommodate the availability of the equipment you need. If possible, try to book your machine rental in advance to ensure you get the equipment you need during the timeframe that you want it.

4. Look Outside Your Location

Of course it’s most convenient to rent from a heavy equipment dealer that’s closest to you but, unfortunately, that might not be possible during an inventory shortage. Renting from online marketplaces, such as EquipmentTrader.com, can increase your machine-rental options from locally to dealers nationwide.

If you do rent from outside your local area, be sure to ask about delivery options and the fees associated with that.

5. Consider Peer-to-Peer Rentals

Did you know that there are rental options outside of dealers? Peer-to-peer (P2P) renting allows industry professionals to rent out their heavy equipment to other businesses and workers. P2P rentals can be a great option during an inventory shortage, giving you access to more units to choose from.

The industry-wide inventory shortage should not stop you from planning your projects. These five tips can help you be more strategic when renting heavy equipment so you can get to work. For more tips for renting equipment, read our previous article. 

And, if you’re ready to start browsing equipment rentals, begin your search on the nationwide online marketplace at EquipmentTrader.com.

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Arielle Patterson
Arielle Patterson

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One Response

  1. Thanks for sharing these amazing tips. Heavy machines need extra care and maintenance. All your tips are useful for machine operators and machinery manufacturers.

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