How To Lease ICT Equipment For Schools
With school budgets being continually limited and reduced, it can be extremely tough to keep up with the demand for up-to-date ICT equipment. No educational establishment wants to develop a reputation for being behind with the times and yet with technology moving so fast, doing the best you can with a smaller budget is essential.
For this reason, computer leasing for schools is much in demand as when you rent you are not tying up large amounts of budget in ICT hardware and software. When you make the decision to lease ICT equipment for your school, you are provided with:
- A predictable budget that allows you to manage assets and maintain essential cash flow.
- The opportunity to maximise funds whilst investing in other essential areas.
- More effective cash flow management, spreading the cost over a 2 – 5 year period.
Do you want to learn more about leasing school equipment? Here are 5 reasons to lease your school’s technology, including how leasing with a specialist provider can help you stay ahead of the curve.
ICT equipment for schools – where to start
So you can see that leasing ICT equipment schools looks like a great idea, but how do you start? The first step is to carry out a review of exactly what ICT equipment you need, putting together a list of essential criteria and then obtaining quotes. Many computer leasing companies can assist with this stage, making sure that you are not paying above market value.
You then need to think about the shortest lease period that will suit you, remembering that as your equipment ages or your needs change, this period will remain fixed. A good calculation to bear in mind is the life of the equipment versus the shortest term that will work for your school. You should ask your lease company to provide you with rental figures spanning a range of years, depending upon what works best for you.
ICT leasing – What happens when the lease ends?
If you are new to leasing computers for schools, then you need to be clear that you understand what happens at the end of the leasing term. You will be renting, not purchasing so at the end of the lease period, you will not own the equipment but will be able to continue the lease for a further period or return the equipment. Your lease company should provide you with end of lease options well in advance of the final date and can help you to decide which choice to make.
Different types of school leases
As far as your school’s accounting department is concerned, there are a variety of leases, referred to as finance leases or operating leases. If your school is Local Authority funded schools or is an Academy, you cannot borrow money and so would have to opt for an operating lease, paying a rental fee for a set period of time. If you are unsure what type of lease to go for, you should check with your Local Education Authority or ask for advice from your lease provider who will operate in line with the Department of Education’s guidelines.
Should you upgrade during the lease period?
Once you are partway through the IT equipment lease period, you may find that various ICT suppliers get in touch, advising that you should upgrade your existing ICT equipment. You should never say yes unless you are absolutely sure that this is the right decision for your school. Most of the time it does not make economic sense to upgrade mid-term and when dealing with a reputable leasing supplier, they can always provide you with good advice with regard to this.
By leasing computers for schools via a trustworthy and reputable source, you will be benefitting in so many ways. Always take the time to do your research well in advance so that you fully understand the various ins-and-outs of leasing ICT equipment for schools.
Looking for further advice on ICT funding for schools? Read more about asset finance solutions for schools or get in touch with our team of leasing experts to discuss your options.