Leasing an office printer is an agreement in which the lessee (the business) agrees to pay a fixed monthly fee to a print management company to use the printer during a contracted period. Depending on the lease terms, the lease can sometimes include additional services and printer supplies.
Leasing an office printer can benefit businesses by allowing them to manage costs, access the latest technology, and receive comprehensive support services.
This article will explain how office printer leasing works and discuss how it can benefit businesses of all sizes, from SMEs to large organisations.
Office Printer Leasing Explained
An office printer lease is an agreement between a print management company (the lessor) and a business (the lessee), where the lessee agrees to pay a fixed monthly fee for the use of the printer over the lease duration, which can range from short-term (twelve months) to long-term (up to sixty months or more). The two primary types of leases offered by print management companies include:
- Operating Lease: This is a short-term lease where the lessee rents the printer without ownership, and the printer is returned to the lessor at the end of the lease term.
- Finance Lease: A long-term lease is similar to a purchase agreement whereby the lessee takes ownership automatically or by paying a nominal fee at the end of the term.
Unlike purchasing, leasing often includes additional services that ensure the printer operates smoothly and efficiently throughout the lease term. These services can vary but generally include:
- Regular Maintenance: Scheduled maintenance visits to ensure the printer functions correctly and to prevent potential issues. These visits typically include servicing, part replacements, and checking for wear and tear.
- Supplies and Consumables: Many leasing agreements include supplies and consumables such as toner, ink, paper, and replacement parts.
- Technical Support: Access to a helpdesk via phone or email to help troubleshoot and resolve issues in real-time.
- Software and Security Updates: Leased printers often come with software and firmware that require periodic updates. The leasing company typically handles these updates, ensuring the printer remains secure and up to date with the latest features and improvements.
- On-Site Repairs: Many leases include on-site repair services, where a technician visits the office to diagnose and fix the problem, reducing downtime and disruption to business operations.
- Remote Monitoring: Some leases offer remote monitoring of the printer’s performance, which allows for proactive maintenance and early detection of issues before they become significant problems.
At the end of the lease term, the lessee can, depending on the agreement, either renew the lease, upgrade to a new model, purchase the printer, or return it.
The Benefits of Leasing an Office Printer
No Up-Front Costs
When businesses lease printers, they avoid the substantial initial capital outlay required to purchase the equipment outright and instead pay for the device in manageable monthly payments. Leasing particularly benefits SMEs, charities, and schools with limited cash reserves. By conserving cash flow, businesses can allocate resources to other critical areas such as marketing, employee development and recruitment, or expansion.
Access to Advanced Technology
Technology evolves rapidly, and purchasing printers can result in owning outdated equipment within a few years. By leasing an office printer, businesses can stay up-to-date with the best printing technology and software, improving efficiency and employee productivity.
Simplified Budgeting and Forecasting
Leasing involves fixed monthly payments, making it easier for businesses to budget and manage their finances. These predictable expenses help companies avoid unexpected financial strain and allow for better financial planning and stability.
Improved Flexibility
As business needs evolve and printing needs change, leasing allows for easy upgrades to newer models. Companies can adjust their equipment without being stuck with outdated technology and, at the end of the lease, can upgrade to newer models to ensure they always have up-to-date equipment.
Ongoing Maintenance and Support
One significant advantage of leasing is that maintenance and support are typically included in the lease agreement, ensuring that the printers are always in optimal working condition. This means businesses do not have to worry about repair costs or downtime due to equipment malfunctions.
No Asset Depreciation
When leasing a printer, the business does not own the asset. Instead, it pays for the right to use the printer for a specified period. Since the business does not own the printer, it does not record the asset on its balance sheet and, therefore, does not have to account for depreciation.
Less Downtime
By leasing printers, businesses can delegate the responsibility of managing office equipment to the leasing company. This allows them to concentrate on their core business functions without the distraction of printer problems or equipment maintenance and management.
As technology evolves, we make it easy for businesses to upgrade to the latest printer models with cost-effective and flexible leasing plans on a wide range of advanced office printers. Browse our range of devices from HP and Konica Minolta.