CHAPTER 8 Renting Out Your Space Will Offset Costs
The upfront cost of purchasing space is one of the biggest drawbacks to buying commercial property, compared with leasing it. The other negative is being locked in. What if your company upsizes or downsizes and you are stuck with your investment? Renting out space is a great way to offset some of this. It will bring in some extra income for your company, and let you be flexible with any space concerns you may have. You could have plans to grow into the space eventually, or just have a few thousand extra feet that may never get used. Properties aren’t an exact fit for each company, and finding tenants is easier than you think.
IT'S A WASTE OF SPACE IF IT IS UNUSED. YOU CAN DO A SHORT-TERM LEASE
Using your broker, or searching for tenants who want to lease in the very short term is how you can find the perfect tenant to share your space with. It is important to get office space that has room for eventual company growth. Chances are, if you’re buying space, you are a rising business and will probably expand your staff. Buying a space that will start with empty areas is normal.
HERE ARE SOME ASPECTS TO CONSIDER IF AND WHEN YOU DO THIS, OR PLAN TO
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