Budgeting for Construction Equipment for Rent in Land Development Projects

As you begin the process of planning for your next land development project, accurate budgeting is crucial to keeping your company in the black and making a profit. You need to ensure you have competent labor and quality materials available to complete the job. In addition, you want the right construction equipment for rent ready from day one on the job site to complete the project on time. Save money and time by estimating your expenses towards equipment rentals effectively so you can make the most of your rental and keep within the project budget.

How to Effectively Budget for Equipment Rentals in Your Construction Projects

Here are 8 useful tips for making sure the cost of your construction equipment for rent fits within your assigned budget:

  1. Assess the scope of the project. You need to look over all aspects of your development job. You will want to consider what types of equipment you may need, including the size and specifications. For example, will you need a bulldozer or a skid steer?
  2. Make a list of the needed construction equipment and questions to ask. As you review the project requirements, it is helpful to make a comprehensive list of what equipment you will need. This includes excavators, bulldozers, loaders, and any additional attachments you need to complete tasks like grading or trenching. It is helpful to note any questions you may have, too.
  3. Determine the length of time you need rental equipment. Before you contact your preferred rental company, you need to know how long you need to keep different pieces of equipment.
  4. Contact a construction equipment rental company. Once you know what you need to complete the project and have listed any questions, it’s time to call up a rental company. You can talk to them about the prices for the rental, any attachments, and the duration you need. You will also want to ask about transportation fees, fuel, and necessary insurance before you book construction equipment for rent.
  5. Build a contingency fund. Unexpected costs, delays, and equipment breakdowns will happen. You can keep the stress down if you have a contingency fund in place.
  6. Keep records. Detailed records of all your expenses, including equipment rental expenses, will help your accountant stay organized and meticulously take care of your accounting needs. It also gives you a good idea of whether you are making or losing money on a project.
  7. Adjust as you work through the project. When you start on any job, you will likely run into bumps along the road. You may need to adjust for any changes or unexpected expenses. It is wise to review your budget throughout the project you are on.
  8. Evaluate after completing the project. Once you have completed the job, take some time to evaluate the actual rental costs against your budget. You can use these insights in future projects.

Keep on Budget with Help from a Reliable Construction Equipment Rental Company

Aim for success in your land development business when you team up with Puckett Rents. We are happy to answer all your questions and having an extensive inventory of boom lifts, excavators, skid steers, and bulldozers. Every piece of equipment in our inventory is clean and well-maintained. Our rates are reasonable to help you remain within your budget for your project. Are you ready to get what you need for your next job? We are here to help you. Give us a call today.

Feel free to call Puckett Rents 24/7 at 800-736-8228 or 601-939-5151. You can also fill out our online form with your questions about construction equipment for rent, and we will respond promptly.