While there are similarities between renting and leasing office trailers, there are some important differences that a business owner would do well to be aware of. Following is a short overview of the advantages of each type of agreement for one’s consideration.
A rental agreement is the best option for those who know for sure that they will not want to purchase the trailer later on. Rental contracts are usually cheaper than leases and can even be used to qualify for certain tax deductions. Best of all, rental contracts are quite flexible, enabling a person to extend the contract should the need arise.
Those who are considering buying an office trailer but are unsure of which one to buy may likewise want to consider renting a trailer as opposed to leasing it. Renting one or more trailers can help a person see the advantages and disadvantages of particular models and get a good idea as to which one would be best to purchase.
The primary advantage of leasing a trailer is that an individual would have the option to buy it if he or she would so desire. Leased trailers can also qualify for certain tax deductions, although it is much easier to get a deduction for a rented trailer than a leased one.
Those who intend to use an office trailer in the long-term and/or need a sophisticated office trailer set-up may want to consider leasing a trailer and then buying it down the line. Switching trailers can take a lot of time and work, not to mention the fact that it can be costly to install wiring and plumbing.
Both rental and lease agreements have their advantages and disadvantages. A business owner who needs to rent one or more office trailers should consider these pointers carefully and make a decision based on what is best for the company not just now but in the future.