Entrepreneurs and small business owners are often baffled whether to rent a commercial property or own one. But trying to figure out exactly which option is best for your business is actually not that complex. Any real estate broker will tell you that it all boils down to your particular situation and where you want to take your company in the future.
Still not convinced? To help you make that important business decision…
Here are 6 reasons why you should consider renting a commercial property:
Renting gives you more versatility in a business world that’s ever-changing. This simply means you won’t be anchored to one spot. When the lease is up, relocating won’t be a hassle and you can easily move to another office that’s better suited to the needs of your business and your budget.
In renting a commercial property, you won’t need to have a larger sum set aside for an upfront deposit. This can have a positive impact on your cash flow and you’ll potentially have more capital left to spend on more pressing business matters such as supplies and staff.
You’ll have fewer things to worry about in renting a commercial property since the property manager or landlord is the one responsible for maintenance, security, remodeling, and other management issues. This equates to less expenses for you.
Easier to qualify
Most of the time obtaining a lease does not require a credit report. This makes qualifying for a lease easier.
It’s easier to find commercial space for rent than for sale. Furthermore, the leasing process takes less time than purchasing, so you can move in your business faster.
Depending on the building, it may be possible to negotiate a lower price on your lease amount.
All businesses have one goal and that is to grow and flourish. By completely understanding and evaluating your business direction and finances, you’ll arrive at the best decision.
Looking for an office space? Contact us now and we’ll help you find one that’s perfect for your business.