Are you looking for a commercial space where you can put up your business, but can’t decide whether you should buy or lease? Buying and leasing a commercial space has both perks and drawbacks. But for a number of reasons, it is best that you opt for a commercial space for lease.
To prove that leasing is much better than buying, here are the benefits of leasing a space that we’ve found out while doing our extensive research.
- No down payment
When buying a property, usually, you are obliged to pay at least 25 percent of the overall price as your down payment and you will credit the balance. If this cost of the property is a bit expensive, meaning to say, the down payment is high as well. That being said, it is not a practical decision especially when you’re just starting out.
But when you consider a commercial space for lease, you will only need to pay 1 or 2 months of the rental fee before you move in. In fact, it is extremely beneficial for small entrepreneurs or business owners that are short of money but want to start their business as soon as possible.
- There is no maintenance cost
Another good thing about leasing is that you will not have to worry about paying for the maintenance. Because most of the time, it is indicated in the commercial lease (it is the contract between the business and landlord for the rental of space) that the maintenance cost is included in the monthly rental fee.
- It is more flexible
When you lease, you will get to change and adapt more rapidly. It is worth mentioning that the flexibility of leasing will offer you the chance to move without restraint and take hold of any opportunities that can help your business grow.
Rather than investing a considerable amount of money to buying a commercial or industrial land for sale, you can use it to grow your business. Actually, when you use the money to grow your business there is a tendency that your team will significantly grow after a few years.
- Negotiable fees
If there is a lot of commercial space for lease in your area and you are good at negotiating, there is a higher chance that the original monthly rental fee will be cut down. As a matter of fact, this is one of the top reasons why most business owners opt to lease.
On the other hand, though you also can negotiate when buying a commercial space for sale, it is still a good idea to lease since it is more practical.
These are only a few of the many benefits of leasing a commercial space. The only drawback of leasing is that you will need to sacrifice equity as well as control over your facilities.
However, if you have decided to buy a commercial or industrial space for sale, that is completely alright, since it comes with benefits as well. What’s important is that you are informed about the benefits that you may reap when you lease.
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