It Frees Up Capital
Not as much money is tied up in the building. The upfront costs are considerably lower. They usually include a security deposit, attorney fees, and inspections. Then some stipulation of your rent will be due when you move in. Your business will have much more capital left over than after buying. There may be other opportunities to use this capital to garner a return on investment that you may not have had the funds for if you purchased a building. It is quite different in the short term than making a major investment for your company.
Much Greater Flexibility
Just as your finances are much more flexible when you lease, so is your employee base and short-term (and long-term) plans. You are only locked into a lease anywhere from three to eight years (give or take). It’s completely different for your company’s future than owning space. You can move locations in the future. You can pick a bigger location if you expand your staff. You can move to a smaller location if your team is smaller. You aren’t locked into one area for an extended amount of time. You also have so much more flexibility when it comes to the type of properties you look at. I sort of touched on this when I mentioned the top areas, but it’s more than that. Properties are up for lease so much more of the time than for sale. You’ll have a wide choice of types of office, shared space or not, high-rise, office parks, and anything else.
More Time for Your Job
All the positive aspects of owning a commercial property I
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