There is so much office equipment needed in the average office that it can often make good financial sense to rent or lease some of the needed equipment. This eliminates the need to come up with a great deal of money all at once, and it allows for a steady monthly budget.
Renting the Needed Office Equipment
If your company is a new one, and you aren’t quite sure yet what type of office machines you will need in the next few years, renting can be a good option. When the equipment is rented, it is for a short term, so it’s easy to stop renting a piece of equipment when you find that your company doesn’t need it. This flexibility is especially helpful in industries that are rapidly advancing and could be far different over the next three years. Renting keeps you from being locked into any one piece of office equipment.
Leasing Your Company’s Equipment
If you’re sure of the office equipment that your company needs, leasing is a good option. Like renting, it prevents you from having to come up with a large sum all at once. The terms are longer, however. There may also be maintenance contracts that can be enacted along with the equipment lease to keep it in good shape. With a lease, your office can learn to use machines that will stay there for a long time to come. And because the contract term is longer, there is often a lower monthly payment.
Should You Rent or Lease?
If you know exactly what your company will be using in the office for the foreseeable future, leasing office equipment is often the better choice. It keeps the needed machines right there in the office long-term. If the technology you use is rapidly evolving, consider renting the equipment instead. It can allow you to upgrade the equipment more quickly as it is introduced into the market. And with a lease, it is often possible to eventually buy the machines that you have been using.
