Benefits of Leasing a Commercial Property
As a business owner, you may be considering moving into a brand new office space to start expanding and growing your business.
As exciting as leasing a commercial office is, it comes with a lot of new expenses, liabilities and factors to consider. But it can also come with a lot of great benefits to your business too.
In our opinion, here are some of the best benefits of renting a commercial property for your business.
One of the best things about a leased space is that you have a lot more flexibility. This is great when you are still a growing small business.
When you outgrow your office space and need a bigger one, it will be much easier for you to move when you are renting. You simply don’t renew your lease, and move into your new dream office space.
With renting, you will often also have a lot more options for office spaces too. You can have your pick of the available places for lease, and be flexible with where you end up.
In our opinion, one of the best things about leasing a property is that, unlike a property owner, you have a lot less responsibility when it comes to the upkeep and maintenance of your building.
Property management is a very costly and time-consuming responsibility to take on. If something breaks, you are liable to fix it, and all the little tasks tend to add up.
When you are renting, you don’t have a lot less to worry about. As long as you maintain your space well and follow the conditions of your lease, you don’t need to worry about any of the extra responsibilities and costs of owning a building.
Without having to spend all of this time on property management, you are freeing up your time to focus on what you truly care about; your business. Investing that time in your business instead is going to help you with growing and smashing all your goals.
Different leases will have different terms, so it is always important that you discuss with your real estate or landlord what your duties and responsibilities as a tenant are.
More money to invest in your company
As well as being able to invest more time into your company, you also have the potential to be able to invest more money into your company.
When you buy a building you will have to pay a large deposit upfront, and have your assets tied up with the property. When you rent, you will be giving yourself more cash flow to invest in your business.
You are taking a risk when you buy, as your building could become outdated, and even lose value. If you have to keep paying for expensive renovations to keep your business modern and up to date, you are opening yourself up to a lot of additional costs.
Renting means you don’t have to worry as much about those risks.
With a long term lease, you are in a good position to negotiate your rental price with your landlord or real estate agent. At Englander Principal we do all the hard work of negotiating for you. With a global success rate of 95%, we are pretty good at getting you the best deal possible.
Want to save thousands of dollars on your next office space? Contact us today to find out how!