Advantages of taking printer on rent from printer rental service

For businesses with a large number of printing requirements, it makes sense to hire printers from a printer rental service. Large printers often take up significant floor space, and these machines are incredibly expensive. For small businesses, the affordability of such printers can be an issue with ongoing maintenance costs and repairs, and they may consider leasing a printer on rent.

Printer rental service has become quite popular in the last decade as managed print services go beyond merely leasing to offering an all-in-one package including preventative maintenance, onsite support, repairs, billing, and usage tracking. For organizations with limited IT bandwidth, a managed printer rental service offers streamlined management depending on the manufacturer or supplier. The primary benefit of leasing a printer/copier is cost-effectiveness, and it makes sense to hire one instead of outright purchase as it is a depreciating asset.

There are two primary types of printer equipment leases: operating leases and capital leases. When a business gets an operating lease for a printer, it's essentially renting the equipment, so the asset never gets added to the lessee's balance sheet. When the contract ends, the lessee has the option to buy the copier, but the lessor will calculate the buyout cost based on agreement terms, depreciation, wear and tear, new technology, and market demand. Operating leases are viable for businesses that don't want the hassle of owning a printer and prefer to lease recent models instead of continually.

Capital leases for printers are the less common choice for businesses as it is more like a loan on the money than rental on the equipment, so the interest and principal paid is towards the cost of the printer and it goes on the lessee's balance sheet. The monthly rate for a capital lease is higher because 100 percent of the cost of the equipment is financed. However, a capital lease offers an advantage for lessees who plan on eventually purchasing as the buyout cost stipulates in the contract at the point of signing. Capital leases are beneficial for businesses that want to buy and own a printer or copier without making the entire purchase upfront.

Another advantage of leasing a printer is the printer leasing company allows businesses to upgrade their printing device anytime during the rental period for the expansion of trade and meet the existing demand. Renting a printer saves resources and offers the opportunity to upgrade the equipment at a much lower cost.

Printer rental service offers additional equipment and services that can be added to the facility throughout the rental term, subject to approval. Subject to the agreement, the service provider may upgrade to the new equipment, terminate and return the material, and re-rent at an agreed rental reduction. Some other advantages of renting a printer include no significant capital investment, rental payments may be viewed as 100% tax-deductible and as an operating expense, flexibility to acquire more equipment as the need arises, and improved management of the associated costs.