With total U.S. construction starts projected to rise by 6 percent in 2016, the construction industry continues on its steady rise. Its expansion is contributing to an increase in corporate projects and profits. To make the most of the upturn, construction companies are having to focus on keeping costs low, working to allocate resources in the most efficient and effective manner possible.
As commercial and institutional building starts increase, it is essential to keep your company’s current projects on time and on budget, all while pursuing the market’s wealth of new leads. One way this challenge can be met is by exploring options that avoid investing time and money into purchasing and managing permanent assets.
There are many benefits to renting instead of purchasing assets for a construction site. Construction sites are dynamic, ever changing and require temporary workspaces to get the job done. Instead of purchasing resources to fill these transitory spaces, renting or leasing equipment that is needed for only the duration of the project can often reduce your company’s capital expenditures. Rental helps to ensure that your time and money is spent managing the projects, not the assets. Several kinds of on-site resources can be leased with these benefits.
For example, furniture rental is a viable alternative to purchasing permanent assets. Furniture rental eliminates the costs of storing on-site furniture between projects, making it an even more financially sound option. Its flexible nature allows you to avoid being stuck with outdated assets. As the needs of the construction site change, rented assets can easily be added or removed to match your company’s current situation, without jeopardizing your time or budget.
One of the greatest benefits of leasing over purchase is the reduced amount of time you are required to spend managing it. Its adaptable nature is designed to help you keep up with the fluctuating lifecycle of construction starts, without wasting your time.
Managing projects and budget is crucial to the success of construction companies. To learn more about how furniture rental can help on your next project, visit CORT.com.
Related Stories
| Dec 7, 2010
Prospects for multifamily sector improve greatly
The multifamily sector is showing signs of a real recovery, with nearly 22,000 new apartment units delivered to the market. Net absorption in the third quarter surged by 94,000 units, dropping the national vacancy rate from 7.8% to 7.1%, one of the largest quarterly drops on record, and rents increased for the second quarter in a row.
| Dec 7, 2010
Hot rumor: Norman Foster designing Apple’s new campus
Lord Norman Foster, reportedly has been selected to design Apple’s new campus in Cupertino, Calif. If the news is true, Foster is a good match for Apple say experts. Foster built his celebrity by marrying big gestures to technological wizardry. And, unlike some starchitects, he has glommed onto the environmental revolution—something Apple has made a point of embracing, too.
| Dec 7, 2010
10 megacities of the near future
With Beijing, Shanghai, and Mumbai already on the global radar, where can the next wave of construction be found? Far beyond China, India, and even Brazil it’s predicted. The world’s next future megacities could include Istanbul, Turkey; Ho Chi Minh City, Vietnam; and Khartoum, Sudan, among others. Read about these emerging and little-known behemoths.
| Dec 7, 2010
Product of the Week: Petersen Aluminum’s column covers used in IBM’S new offices
IBM’s new offices at Dulles Station West in Herndon, Va., utilized Petersen’s PAC-1000 F Flush Series column covers. The columns are within the office’s Mobility Area, which is designed for a mobile workforce looking for quick in-and-out work space. The majority of workspaces in the office are unassigned and intended to be used on a temporary basis.
| Dec 6, 2010
Construction unemployment rate jumps to 18.8% between October and November
The construction unemployment rate jumped to 18.8% in November as the sector lost another 5,000 jobs since October, according to an analysis of new federal employment data released today by the Associated General Contractors of America. The data indicates that the construction sector has suffered more than any other industry during the economic downturn, association officials said.
| Dec 6, 2010
Honeywell survey
Rising energy costs and a tough economic climate have forced the nation’s school districts to defer facility maintenance and delay construction projects, but they have also encouraged districts to pursue green initiatives, according to Honeywell’s second annual “School Energy and Environment Survey.”
| Dec 2, 2010
GKV Architects wins best guest room design award for Park Hyatt Istanbul
Gerner Kronick + Valcarcel, Architects, PC won the prestigious Gold Key Award for Excellence in Hospitality Design for best guest room, Park Hyatt Macka Palas, Istanbul, Turkey. Park Hyatt Maçka Palace marries historic and exotic elements with modern and luxurious, creating a unique space perpetuating Istanbul’s current culture. In addition to the façade restoration, GKV Architects designed 85 guestrooms, five penthouse suites, an ultra-hip rooftop bar, and a first-of-its-kind for Istanbul – a steakhouse, for the luxury hotel.
| Dec 2, 2010
U.S Energy Secretary Chu announces $21 Million to improve energy use in commercial buildings
U.S. Energy Secretary Steven Chu announced that 24 projects are receiving a total of $21 million in technical assistance to dramatically reduce the energy used in their commercial buildings. This initiative will connect commercial building owners and operators with multidisciplinary teams including researchers at DOE's National Laboratories and private sector building experts. The teams will design, construct, measure, and test low-energy building plans, and will help accelerate the deployment of cost-effective energy-saving measures in commercial buildings across the United States.
