How Much It Costs To Rent a Crane
Cranes are the most effective way to move heavy loads in a variety of situations. Renting is the easiest way to get access to many different types of cranes on a daily, weekly or monthly basis without having to actually purchase one.
When renting a crane, it is possible to use a national online rental network or a local crane service. In some cases, an online network actually helps you find equipment with a local partner, which provides you both the convenience of searching online and also the ease of working with a nearby company.
Before renting a crane, read on to learn about the following:
- Prices for average crane rentals
- Factors that affect the rental cost
- Advantages of renting a crane instead of buying one
Crane Rental Prices
Crane rental costs vary based on many factors, so the only way to get an accurate price is to request a quote from a quality vendor. Because there are thousands of models of cranes with different features and specifications, there is no simple answer about how much it costs to rent a crane. Nonetheless, it helps to have some idea of rental costs. Generally speaking, small mobile cranes cost around $200 per day to rent and large operated cranes cost closer to $1,000 per day, while large tower cranes can cost around $15,000 to rent for a month.
Besides the rental cost, make sure you consider additional costs that may be involved:
- Delivery and assembly: Many cranes must be delivered to the job site, like crawler cranes, or even assembled, like tower cranes.
- Permits: Often, cranes require permits to operate, so check with your local jurisdiction to understand the costs and paperwork involved.
- Qualified personnel: All cranes require qualified operators, riggers and signal persons, which are necessary for safe lifting.
- Other fees: Disconnecting utility lines, preparing a lift plan, paying for overtime and other costs come along with renting a crane.
These fees, though, are only a part of the factors that go into determining a crane’s rental cost.
Factors That Affect Rental Cost
A number of factors go into the final rental cost for a crane, and understanding them will help you make a good decision for your particular needs.
These are the most important factors in determining the cost to rent a crane:
- Type of crane: Depending on the type of crane you rent, costs will range from hundreds to tens of thousands of dollars. Small carry-deck cranes will be inexpensive, whereas operated cranes or tower cranes will cost much more.
- Lifting capacity: The more that a crane can lift, the more expensive it will be. Some of the largest mobile cranes can lift more than 1,000 tons.
- Location: Depending on the country or state you’re renting in, prices can vary dramatically.
- Duration of rental: While it is always more expensive to rent a crane for a longer period of time, the cost per day drops dramatically when you rent a crane on a weekly or monthly basis.
- Current demand: During construction booms, cranes are in high demand, and costs can rise significantly.
Considering all of these factors will help you better understand what you’re looking at when you request a quote for a crane rental.
You may also want to consider whether it makes more sense to rent a crane or purchase one depending on your particular situation.
Advantages of Renting a Crane
Though purchasing a crane can be a good long-term investment for some companies, most people are better off renting a crane for a number of reasons.
The following are some of the most important things to consider if you buy a crane:
- High capital investment: Purchasing a crane involves significant capital — from tens of thousands of dollars for smaller cranes to millions of dollars for larger cranes — that may be difficult for many companies to justify.
- Transportation and storage costs: When purchasing a crane, you must consider how you will transport it to the job site and store it when it isn’t being used, both of which incur additional costs.
- Maintenance costs: If you buy a crane, you will be responsible for performing regular maintenance to ensure safe operation.
- Less flexibility: When you buy a crane, you are limited to its specifications and capabilities.
- Depreciation costs: A crane loses value over time just like other assets, and this cuts into the value of your investment.
By contrast, crane rental offers flexible pricing, short-term savings and no depreciation costs. Additionally, you can rent a different crane for each job so that you’re not stuck with a single model that isn’t ideal for future situations. Finally, crane rental means that you won’t have to perform maintenance on your own crane or store it when it isn’t being used, which saves you money over time.
When you’re ready to start your next job, using an online rental network is the easiest way to rent a crane. For detailed pricing information, request a quote for the crane you need to get your job done. Renting a managed and operated crane is an excellent option to consider—these hourly, daily, weekly, or monthly rentals include qualified personnel to operate the crane.