Here are the key advantages:
1. Lower Initial Costs
- No large upfront investment is needed compared to buying hardware.
- Ideal for startups or businesses with limited capital.
2. Predictable Monthly Expenses
- Leasing allows for fixed monthly payments, making budgeting easier.
- Helps manage cash flow more effectively.
3. Access to Latest Technology
- Rental and lease agreements often include upgrade options, allowing you to stay current with new technology.
- Avoids the rapid obsolescence of computer hardware.
4. Maintenance and Support
- Many leases include technical support and maintenance, reducing IT overhead.
- Quick replacements if equipment fails.
5. Scalability
- Easily scale up or down depending on project requirements or business growth.
- Convenient for seasonal businesses or short-term projects.
6. Tax Advantages
- Lease payments are often considered an operating expense, which may be tax-deductible (check local tax laws in the Philippines for specifics).
7. Asset Management
- Less burden on managing hardware inventory, depreciation, and disposal.
- Leasing companies often handle asset tracking and end-of-life recycling.
8. Trial or Temporary Use
- Renting is ideal for temporary needs, such as events, training sessions, or remote work setups.
When is Leasing or Renting Ideal?
Startups with limited funds
Businesses with short-term projects
Companies that need to regularly update their tech
Organizations looking to minimize IT support responsibilities
