Private-Crane-RentalCompanies that rent private cranes that are used for the construction of large commercial projects are seeking to rebound from the effects of the recent economic downturn. The current rental rates for private cranes are well below the rental rates of 2008 as the number of large construction projects has declined. Although there has been a downturn in the large commercial construction sector, residential housing new starts have been on the rise, giving a glimmer of hope to the commercial building market and the crane rental industry.

There are some important things for you to consider when looking at the rental of a private crane. These considerations revolve around understanding why you should consider renting a crane, the types of projects these cranes are used for and an examination of the costs associated with renting a crane versus the capital investment made in purchasing a crane. Having access to a private crane rental service for your large commercial construction projects may be the difference maker for your company in its ability to complete construction in the most cost effective way possible.

Why Rent a Crane?

There are many reasons to consider the rental of a crane from a private crane company. One of those reasons is the cost involved with renting a crane versus the cost of purchasing this equipment. This can be an important consideration, especially since controlling your costs and expenses are important to your business and its profitability. Additionally, one reason why you may want to consider renting a crane is the ease with which a rented crane can be removed from the construction site after completion of the project. Crane removal being handled by a third party would mean that there is no need for you to have separate housing for the crane when it isn't needed for a construction project.

What Projects Are Cranes Useful For?

Cranes are found in those types of projects that require heavy lifting. Typically the building of tall skyscrapers and large commercial office buildings, shopping malls, hotel and convention centers as well as manufacturing and processing plants require the use of cranes. If you are engaged in this type of construction, you understand fully the benefits of having access to the appropriate crane equipment necessary to meet critical deadlines and bring your construction project to completion.

What Are the Costs Associated with Renting a Crane Versus Ownership?

When looking for a construction crane for your large commercial building project, you need to understand the costs associated with renting versus buying. Whether your company is engaged in many mid-size and large commercial construction projects or this type of work is a smaller portion of your project portfolio, you need to be able to judge the benefits of renting a crane for your needs. Crane rental rates vary, mostly depending on the type of equipment you need for your project and how long the equipment will be needed. A rough terrain crane can range in cost for rental of a couple thousands of dollars for a low ton lift (28 to 40 ton) to $30,000 for a high ton lift (130 ton).

Although the costs for purchasing or leasing a crane as a piece of capital equipment is hard to ascertain, as terms can vary, it is not unreasonable to fix these costs at 10 to 20 times higher than the monthly rental rate.

Richie Martinson is a freelance writer based in Sacramento, CA. Richie recommends that readers who’d like to learn more check out the resources from Bigge crane rental.