In businesses like logistics, natural resource extraction, and construction, forklifts play a key important role in moving heavy materials safely and efficiently. These business types are especially heavy users of forklifts, with many of them owning and operating these machines around the clock.
However, there are many other businesses that don’t require forklifts on a full-time basis. Small retailers, for instance, may only need them when taking on certain deliveries, making full ownership of a forklift impractical. Even larger businesses may only need forklifts during peak demand seasons. For these organizations, forklifts for rent can be a cost-effective solution.
So long as you don’t need a forklift all year round, renting provides significant cost benefits and flexibility. As an added perk, renting can also allow you to access the latest models, making it a good way to test various forklift models before committing to purchasing your own forklifts, should it be necessary in the future.
As great as that all seems, not all forklift rental companies or forklift models are necessarily the right choice for your business. To ensure you have the equipment you need, get together with your inventory and warehousing teams to consider the following:
1. The Type of Forklift Needed
You want to avoid renting based on simple specs and brand recognition alone. Discuss your business’s requirements with production managers so you can shortlist the specs and technologies needed. For instance, various diesel, electric, and gas-powered forklifts may have advantages and downsides depending on the environment they’re used in. Make sure the rental companies you’ve shortlisted offer the models that closely match your needs.
2. Lift Capacity and Height
Next, you must ensure that the forklift you’ll be renting can handle the maximum weight and size of the loads you’ll be lifting. Overloading is a serious hazard, so the model you settle on must be able to comfortably handle the maximum load weights expected in your operation. Also, if you have a warehousing or construction operation, the lift height must be appropriate for your racks or material stockpiles.
3. Rental Terms
The rental terms can determine the cost-effectiveness and operational availability of your borrowed forklift. Review the contract carefully, paying attention to the rental duration, renewal options, and penalties for early returns or extended rentals. Ideally, the terms must be flexible enough to cover unexpected changes in your project timeline so that operations can continue with minimal disruptions.
4. Equipment Quality and Reliability
Your rental company should provide well-maintained forklifts that are fit for your project. Inspect the forklift’s maintenance history and try to talk to previous customers to see if the rented equipment is reliable. Properly maintained equipment reduces the risk of costly downtimes and helps ensure the safety of your workforce.
5. Service Support and Maintenance
If you’re renting for more than just a couple of hours, you’ll want to consider the level of support offered by the rental company. In case of a breakdown, access to prompt maintenance or repair service can make all the difference in keeping your project moving along.
6. Rental Costs and Hidden Fees
While the daily or weekly rental rate may seem reasonable, it’s important to clarify if there are any additional fees. Forklifts do cost money to deliver, pick up, and fuel so it’s important that you’re clear who is footing the bill in these areas. Knowing the full cost upfront will help you prepare a more realistic budget and avoid unwelcome surprises on your invoice.
7. Insurance and Liability
Insurance is also a serious concern, as forklifts are often used in hazardous work sites. Insurance coverage can vary depending on the rental company and you might be compelled to arrange additional cover if you’re using the forklift in an area with higher risk, such as a remote mining site. You also need to be clear on which parties are liable for damage, theft, or accidents during the rental period.
8. Delivery and Collection Logistics
Just because the rental company has the right forklifts and good rates, it doesn’t mean that they will be able to deliver and collect the forklift at your site efficiently and within your required timeframe. Not all rental businesses will be able to transport your forklift to remote areas either, so you may need to engage with a separate logistics provider, adding to the total equipment rental cost. In any case, you have to be aware of the transportation charges and the delivery timetables to ensure your operations stay on budget and on schedule.
Carry Heavier Loads for Less
For businesses with infrequent or modest material handling needs, renting forklifts probably makes more sense than buying one just for it to stay idle most of the time. However, making an informed decision requires you to look beyond technical specs and upfront costs. With a more holistic overview of equipment rentals, you should be able to access quality forklifts and other heavy machinery at a cost that your business can truly bear.
Also Read: Rental Trucks vs Hiring Movers: Which is the Best Choice for Your Move?
