Whether you’re an established company looking to expand, or just getting started, the equipment your team needs is a crucial component to your success. But how can you provide the latest photocopier machines, computers or laptops and PABX telephones to everyone without interfering with your business’s cash flow?

One way to make this possible is by investing in office equipment rental. This service allows you to avoid hefty upfront payments and work small monthly installments into your budget for the duration of your lease term. In addition, many vendors who offer office equipment rental also provide a maintenance plan to ensure that any repairs or issues are taken care of quickly and without costly delays.

As a result, you can focus on the important work at hand rather than having to worry about the day-to-day maintenance of your office equipment. This frees up your time to invest in other aspects of your company, such as marketing and development, which will ultimately allow you to grow.

Office equipment rental isn’t a new concept as it has been around since the 1950s. It originally started by providing office furniture, but as demands grew began to fulfill technical aspects of an office such as (at that time) typewriters, telephones, printers, fax machines and eventually computers. Purchasing equipment is a large financial commitment and can be a big burden for new companies especially since the initial investment may require substantial capital. Purchasing equipment is also an extremely expensive endeavor as you have to consider the initial purchase price, ongoing maintenance costs and the depreciation of the item over time.

When you rent, however, you are essentially borrowing the equipment from the dealer that owns it. In the majority of cases, you will sign a lease agreement that outlines how long you’ll lease the equipment and how much you’ll pay each month for the duration of your lease term. Depending on the terms of your contract, you’ll be able to return or upgrade the equipment when your lease ends. You can also opt to buy the equipment at its current market value, which is usually significantly less than what you would pay for it when it’s new.

Another advantage to leasing your office equipment is that it is typically tax deductible as an operating expense. Keeping your business expenses separate from your personal ones makes filing taxes and tracking revenue much simpler. Moreover, if you need to invest in more high-tech equipment, it is generally easier to get an approved loan for a lease than it is to secure financing to purchase the new technology outright. This can be an especially important factor to consider if your business is growing at a rapid pace and you may need to scale up your operations sooner than expected. Lastly, the best part about renting is that you can turn your equipment in at any point for a nominal fee. This is especially helpful if you want to upgrade to the latest technology and are worried about having to sell off older equipment.