As key players of the rental industry gather in New Orleans for the annual Rental Show, hosted by The American Rental Association (ARA), it was revealed that rental industry revenue is expected to grow to nearly $60 billion over the next five years. The report put out by the ARA’s Rental Market Monitor predicts a rate of growth of 4.5% for the current year, and then climbing to 5.6% for 2019, 5% in 2020, and 4.4% in 2021. Growth is also being predicted for the Canadian market.
The ARA contributes these findings to new government policies, including the Tax Cut and Jobs Act which begins in 2018. These tax cuts, both personal and for businesses, are expected to be responsible for higher wages which will increase consumer spending, as well as lead to major investments into new rental equipment by rental companies.
Now more than ever, it is increasingly important to have reliable, advanced technology to manage your rental business to be prepared to handle the coming influx. With RMI Corporation’s ADVANTAGE Software, we can help you to capitalize on this expected market growth with cutting edge solutions to increase productivity and efficiency as demand increases.
We look forward to helping your business!