Survey: Lease, Rent or Buy Equipment
An April 2011 online survey asked building service contractors (BSCs) if they have ever considered renting or leasing janitorial equipment such as carpet extractors and floor machines. The survey, sponsored by Powr-Flite, found that of the 63 contractors that started and/or completed the survey, 62.6 percent indicated they had considered renting floor machines and carpet extractors; slightly more than 56 percent said the same about leasing these tools.
When asked aboiut the advantages of leasing and renting, the survey found that:
• 63.6 percent indicated leasing had "less impact on cash flow"; and
• 83.3 percent liked being able to "rent the machine if and when I need it."
Although the survey respondents did believe there were benefits to renting and leasing cleaning equipment, cost benefits, for the most part, were not one of them. Asked if over the long-term they believed renting cleaning equipment was more or less expensive than buying it, nearly 69 percent said more.
Similarly, half thought leasing janitorial equipment was more costly than buying it. However, 31 percent thought it was less expensive.
"Leasing can be cost effective because very often the contractor can purchase the equipment at the end of the lease at a significantly reduced price," says Gary Pelphrey, Marketing Director for Powr-Flite. "Because more distributors and rental houses rent/lease professional cleaning equipment, at least this is an option available to BSCs when needed."
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