Why schools should lease equipment through Utility Rentals
With a (nearly!) 40-year track record in helping schools afford high quality equipment, there are many reasons why schools across…
With a (nearly!) 40-year track record in helping schools afford high quality equipment, there are many reasons why schools across the UK choose Utility Rentals time and again as their leasing partner.
In this blog, we’ll explore each of those reasons and explain how schools can benefit from partnering with us to finance their new equipment.
6 reasons why schools should lease their products from Utility Rentals
Here are six reasons why leasing from Utility Rentals is the ideal solution for schools:
1. Improved cashflow
Leasing equipment from Utility Rentals provides schools with a flexible and budget-friendly alternative to outright purchasing. By spreading the cost over time, schools can ringfence their capital budgets for other essential expenditures.
Given the cash issues faced by most schools in the country, this is a major advantage of leasing with Utility Rentals.
2. Peace of mind
There has been a recent change to the way this type of leasing works. As of 1 April 2024, schools are required to adhere to the IFRS 16 standard, which removes the distinction between operating leases and finance leases for accounting purposes.
But what does this mean? In short, all leases are now categorised as borrowing and must be approved by the Department for Education (DfE). However, far from creating new obstacles, this has actually made things easier for schools because the DfE has issued a list of pre-approved leasable equipment enabling schools to access funding for a broader range of assets than ever before! This list includes IT equipment, catering equipment, furniture, bathroom and sanitary items, LED lighting, and more.
So, you can go ahead and lease your equipment from us, safe in the knowledge that it’s fully compliant!
3. Huge range of quality products
We don’t lease any old tat. We handpick our equipment suppliers, working only with those who can demonstrate a track record of supplying high quality, reputable equipment. We usually reject new suppliers, preferring instead to work with companies that have experience of supporting their customers over the many months or years of a lease.
Over the last four decades, we’ve built up a ‘little black book’ of hundreds of quality suppliers, enabling us to offer a huge range of high quality equipment to schools.
You can rely on us to provide the full spectrum of school equipment from the glamorous kit like iPads and interactive screens to the mundane but necessary products like commercial dishwashers. Our website lists the most typical equipment for schools that we tend to finance, but if you want to buy something not listed, ask us about it – we can probably help!
4. Flexibility
Do you already have a quote from a supplier that you’re looking to fund? Or do you know what you want, but you’re not sure who to approach? We can help you either way.
If you already have a supplier, we can work with them to help you acquire your equipment on a compliant lease. If you don’t, we can make recommendations and introductions to reputable suppliers who have the products you need.
5. Increased efficiency (time and cost!)
What’s more efficient: a computer lab with a mix of ageing makes and models, or one that’s kitted out with a set of identical brand new machines from the same manufacturer?
Leasing enables you to make big savings on the time and effort you spend looking after your equipment, because if issues do arise, the solutions can be rolled out across the whole fleet. Much more appealing than fixing problems across a mish-mash of different equipment!
There’s also a cost-efficiency when you’re leasing high-value equipment like interactive screens. It works out to be approximately three times as affordable as purchasing it outright.
Let’s say your school has nine classrooms. To equip all of them with a new interactive display screen, you could choose to purchase three screens a year for three years. But the cost to buy one screen can be similar to funding three. So, working with us, you could lease all nine screens at the same time. The table below shows at a glance how an operating lease from Utility Rentals really does add value.
6. A full service
The vast majority of our leases come with a full package of installation, warranty and tech support. The exact details will vary by product/ supplier, but we don’t just write the cheque and say goodbye! We make sure that you have everything you need to make the most of your new equipment, and our friendly customer service team will be on hand through the leasing process to answer any questions.
That’s probably why we’ve been awarded Feefo Platinum status for the last 6 years in a row!
Find out how to lease equipment for your school
Leasing equipment from Utility Rentals offers a host of benefits for schools looking to upgrade their facilities and provide the most effective learning experience for their students.
Take a look at some of our case studies to read about the experiences of schools that have partnered with us, and check out our bucketload of 5-star reviews on Feefo!
For an initial no-obligation chat about whether leasing is right for your school, please get in touch with our friendly team today.
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