If you’re planning to add some cleaning machines to your toolkit, you’ll first need to decide whether you want to buy, finance, or rent your equipment, writes Tennant Company.
So, what are the benefits of cleaning equipment hire? Why is it becoming so popular? And is it the best option for you?
Here’s why more companies are choosing to rent:
1. Access better tech now
When you rent, you don’t have to wait until you can afford to buy new equipment outright. It means you can add a better piece of equipment to your inventory now and start enjoying the benefits from upgraded technology right away. Benefits like saving time, saving money, operating more efficiently and getting a better, cleaner result.
2. Flexible upgrades
When you rent instead of buying your machines, it can be easier to switch to a different type of equipment if your needs change or upgrade as you go along. There’s no need to wait until the end of your machine’s life or try to find a secondhand buyer. Simply trade-in your existing rental machine for a newer model. Or add a new machine to your fleet any time you need to increase your capacity and handle a new or bigger cleaning challenge.
3. Stay on budget
Many companies can’t pay for a new piece of equipment outright – they might have to wait 3-6 months to save up for a new machine. Fortunately, you can stay within your budget and get your equipment right away with renting, because the costs are spread out over the life of your machine. Renting means you have predictable, affordable payments coming out each month instead of one lump sum.
4. Grow your business
Renting means you can spread your immediate funds across other investments that help grow your business. Investments like company vehicles, upgraded branding, marketing campaigns, and additional team members. Renting gives you the flexibility and funds to move quickly and seize new opportunities.
5. Get tax benefits
When you rent your machine, it’s considered an operating expense, whereas when you purchase your machine outright, it’s considered a capital expense (used to buy an asset). This means that renting can come with tax benefits, although you should definitely confirm this with your accountant (we don’t provide financial advice).
At the moment, if you’re a small business in Australia, the threshold for upfront asset write-offs is $30,000. If you purchase a piece of equipment for more than this, you’ll need to depreciate it and claim the tax over time. On the other hand, monthly rental payments can be 100 per cent tax-deductible, with no need to worry about depreciation rules or tracking your tax deduction over the life of your equipment. But once again, you’ll need to seek independent advice from your accountant to confirm your eligibility and how tax deductions work for your company.
6. Simplify ongoing costs
Finally, monthly rental payments can help simplify things by bundling the ongoing cost of your machine into one simple monthly payment. Cleaning equipment needs ongoing servicing and maintenance. When you hire cleaning equipment with Tennant ANZ, we combine your Factory Direct Servicing with your rental payments so you get one fixed price payment every month and a full maintenance (comprehensive) service program.
Renting cleaning equipment from Tennant
What makes Tennant’s cleaning equipment hire different?
It’s an in-house service. That means instead of dealing with a supplier or redistributor, you get to deal directly with the equipment manufacturer. Plus, access our Factory Direct Servicing, using Tennant True Parts to protect your investment and ensure maximum uptime.
It also means you can be confident you’re getting the best possible machine and expert training. As well as ongoing support from a service team of 40+ technicians who have deep knowledge of how your equipment works.
And since we’re a nationwide company, our strategic account leaders are here to help you get centralised pricing for all your locations across Australia and New Zealand.
Another huge Tennant difference is technology.
All our rentals come with IRIS Asset Manager for data management, allowing you to ensure your rental machine is being used exactly how you want. Keeping tabs on your most important assets has never been easier.
And your Tennant floor scrubber hire comes with Ec-H20 NanoClean technology for highly efficient water-based cleans. This minimises your chemical purchases during the rental period.
Finally, we’ve got a huge range available for hire. You can choose from a variety of Tennant machines available for rent, from our S10 to a S30, and from T300 to M30.