The Cost of Renting a Crane
Cranes are staples at every construction site. Renting a crane is easier than purchasing one as constructing a building requires several different types of cranes to perform different tasks. Before you rent a crane, here’s what you should know about it.
Average prices for crane rentals
Factors impacting the rental cost
Benefits of renting a crane and not buying
Average Prices for Crane Rentals
Rental costs for cranes differ due to various factors. Therefore, the best way to gauge it would be to ask for a quote from a trusted vendor. As there are different crane models with varying specifications, there’s no singular cost for rent.
Generally, mobile cranes cost approximately 200 dollars a day, large cranes cost around 1000 dollars per day, and tower cranes may cost closer to 15,000 dollars a month. Along with the rent, here are some additional costs you should consider.
Delivery costs – cranes are delivered to the construction site and often assembled there.
Permits – sometimes, cranes need official permits. Therefore, you must check with your local laws to understand the paperwork before renting a crane.
Qualified operators – all cranes are operated by qualified operators, signal persons, and riggers.
Miscellaneous fees - these include preparing crane plans, paying for overtime, and other such costs.
Factors Impacting the Rental Cost
Many factors impact a crane’s rental cost and being aware of them will help you make a suitable decision based on your needs.
Crane’s type – based on the type of crane you want to rent, the costs can range from a few hundred to thousands of dollars. Carry-deck cranes may be cheaper compared to tower cranes which cost a lot more.
Lifting capacity – the rent of a crane increases with a crane’s lifting capacity.
Duration – it’s more expensive to rent a crane for an extended period, but the per-day cost drops significantly if you rent it on a monthly or a weekly basis.
Demand – when construction is booming, cranes can become high in demand, and their rental costs can increase.
Benefits of Renting a Crane and Not Buying
While buying a crane is a smart choice for long-term construction work for some companies, most of them prefer to rent. Here are some benefits of it.
Significant capital investment – buying a crane entails spending thousands to millions of dollars. Many companies may not be able to justify these costs.
Storage and transportation costs – when buying a crane, you should consider how you’ll transport it to your construction and where you will store it when not in use.
Maintenance costs – as a crane owner, you’ll be held responsible for periodic and frequent crane maintenance.
Depreciation costs – just like other equipment, cranes also lose their value over time, which can cut into your investment.
While renting a crane, you must ensure crane safety. Crane Warning Systems Atlanta helps you ensure that with its alarms and indicators. Our products include ATB systems, crane load monitors, portable cameras, rated capacity indicators, load moment indicator, Load Moment Indicator, wind speed indicator systems, and more. For more information, contact us at 770-888-8083.