Deciding between renting or buying video production equipment is a big choice for any filmmaker, especially if you're just starting out. Both options come with their own advantages and challenges, so it’s important to weigh your options carefully. Renting can be cost-effective and offers flexibility, but buying may be a better investment in the long run if you’re planning to use the equipment frequently. In this post, we’ll dive into the pros and cons of each approach to help you make the best choice for your video production needs. Whether you’re working on a budget or looking to build a personal gear collection, this guide will help you decide: should you rent or buy?
Renting
Renting is when you pay a third party to use their products. At EFE, we rent cameras, lenses, grip gear, lights, and more to those looking to shoot video or photos. Customers pay a percentage of the overall product cost, but only use it for a certain period of time. For example, some of our cameras cost well over $1000, but customers can rent them for about $100 for the weekend.
Try Before You Buy
Renting gear is a great way to try different items before deciding what to purchase for your own personal collection. You can rent different types of lenses and find what you like best, or different cameras and see what features you use most. By paying a small cost to try a product for a few days or weeks, you can invest more into whatever you buy that you’ll hold onto for years to come.
Cost-Effective for Occasional Use
If you are only planning to use filmmaking equipment occasionally, it may be more cost-effective for you to rent. Renting is generally cheaper for one-off projects, helping you avoid a large upfront investment. You may only need certain lenses or lights for one or two shoots, so why pay full price when you can pay less for when you need it?
Access to High-End Equipment
Being able to rent high-priced items, such as BlackMagic cameras, makes video production more accessible. Even though you can’t keep these amazing products to yourself, you can get a taste of them. Though expensive doesn’t always mean better, being able to say you used a cinema-quality product on your amateur film is a thrilling feeling.
Flexibility
Renting lets you try different models or equipment setups to find what works best for specific projects, and on your schedule! The best rental houses are flexible in what they can provide to their consumers.
No Maintenance or Storage Costs
You don’t have to worry about any upkeep costs if you rent. Normal wear and tear will be covered by the rental house. Of course, if you do damage your rental equipment significantly, you may be charged extra fees to help cover repairs and cleaning.
Also, what if you live in a small space, like a dorm room? With rentals, you don’t need to worry about where you’re going to store your gear. When you do rent, you will often be given cases or bags to keep your gear in for the rental duration, making for easier storage in your own space.
Easy Upgrades
Renting allows access to the latest gear without the need to replace older models. You can try the newest camera or microphone easily and affordably.
Long-Term Costs Add Up
If you need gear frequently, rental costs can accumulate, potentially surpassing the cost of buying. If you find yourself needing the same lens or c-stand every week, it may be time to buy your very own. That way, you always have access to your favourite gear no matter what, and others can rent without scheduling conflicts.
Some rental houses can order in gear for you to purchase. Talk to your preferred retailer about ordering your favourites.
Limited Availability
Rental equipment isn’t just between renter and rentee. Equipment may not always be available, especially during peak times or for popular models. If you need a specific item, you may be hooped if it’s already on rent.
Time Constraints
Rental periods are usually fixed, so you may feel pressured to complete projects within a limited time. Plan ahead for any reshoots or long days, and make sure you have your gear for as long as you could possibly need it. Many rental companies will actually offer better deals if you choose to rent for an extra day or two.
Buying
Buying gear means you are the sole owner of it (unless you lend it to anyone!). You can do whatever you want with your gear, and customize it.
Long-Term Investment
If you plan to use specific products frequently, owning can be more cost-effective compared to renting. Think about it this way: the camera you like is $1000. Your local rental house offers it for $50/day. In order to make purchasing the camera a better deal than renting, you’d want to be using it more than 20 days total.
Full Control Over Equipment
Having your own gear means no time constraints and the freedom to use it whenever you need. You can also modify or customize your equipment to your heart’s content, making a smoother experience for you.
Build Familiarity and Efficiency
Using the same gear that you bought over and over again lets you learn its nuances, making setups and shoots smoother. Consistency is key when it comes to reshoots or series of videos or photos, and the best way to achieve that is by using the same equipment each time.
High Upfront Cost
Buying your own gear often means a large cost right away. You may have to save up for a while to be able to afford your dream equipment. You may be fortunate enough to be able to enact a payment plan for your gear, however, if you don’t make all your payments on time, you may end up spending more in interest and fees than if you paid it all at once!
Depreciation
Technology advances quickly, so gear can lose value or become outdated relatively fast. You want to make sure that the pieces you’re buying are timeless, or are able to be compatible in a range of scenarios. Otherwise, be prepared to upgrade eventually.
Maintenance and Repair Costs
Owning gear means you’re responsible for repairs and upkeep, which can add to costs. Cosmetic flaws such as scratches or bumps can become a hassle to keep “perfect”, and if you break your gear, you may end up spending more in repairs or replacement than what you paid for the item! Be patient and careful with your film gear to prevent damage.
Storage Space
You’ll need to make sure you have somewhere to put your gear, especially larger items such as tripods, stands, and lights. If you don’t have the space, you’ll need to pay extra to store it elsewhere, such as a storage facility.
Choosing between renting and buying video production gear ultimately depends on your goals, budget, and how frequently you’ll be using the equipment. Renting can be a smart choice if you’re looking for flexibility, access to high-end gear, or need something specific for a short-term project. On the other hand, buying equipment may be worth the investment if you’re working on regular projects and want to build familiarity with your gear over time. Consider the pros and cons of each option, research and talk with professionals such as rental house employees and videographers, and assess what aligns best with your current needs and future ambitions. With the right choice, you’ll be equipped to create high-quality content and grow as a filmmaker.
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