All growing small businesses will someday need a bigger space. Now, the question is, would leasing be a better option than buying a commercial property? There are many advantages to buying your own building. But, you can also benefit from checking out commercial properties for lease, especially if you’re looking for a more flexible option.
Here are some of the advantages of leasing a commercial property space for your business.
There is nothing wrong with leasing a commercial property, especially if you can’t afford a building of your own yet. In fact, commercial properties for lease offer many advantages, such as better flexibility. This is especially true when you aren’t sure whether how long you are going to use the building. There’s always the probability that you’re going to transfer location at one point or another.
If you own the property, you will need to take the time to sell it. If it’s still in a desirable condition and is located in a prime spot, you may be able to sell it at a profit or a break-even price. Worst case scenario, you may have to sell it at a discount.
As for a leased property, on the other hand, you won’t have such a problem when your contract expires. You can easily move out when you need a better property or if the location becomes undesirable.
Buying a property means getting a loan. You also need to come up with a hefty amount of money for the down payment. Couple that with third-party inspections, the cost of loan fees, and other purchase-related expenses, and you’ll end up drowning in expenses. Most commercial properties for lease, on the other hand, only require a security deposit and the initial rent payment. Check it out at Henzells
Additionally, you won’t have to worry about property upgrades or repairs, as your commercial property rental landlord will take care of all the building improvements and maintenance.
Cleaner balance sheets
Keeping in mind all your building maintenance costs and your other business expenses at the same time can seriously throw off your balance sheet. While that can eventually be fixed, it will still take up much of your time and effort. But, when leasing commercial property, you only need to take note of the lease your company is paying for without affecting your overall assets and liabilities. Plus, it’s much easier to keep track of your lease payment, as it is a fixed cost.
However, do take note that leasing is just an option. If you have the budget, then—by all means—go ahead and buy the best commercial property for sale Sunshine Coast agents recommend.
Finding the best commercial real estate for lease Sunshine Coast wide won’t be easy. There are many things to consider, such as the location, size of the building, and rental cost. Of course, with the help of the right agent, you will eventually find something that fits your needs. Still, when looking for a real estate agent, make sure that they are from a reputable and respected firm. like Henzells Agency.
This company has been in the real estate industry for quite a long time, that they have built a reputation for themselves as one of the best real estate agents on the Sunshine Coast. Their team of property consultants, sales representatives, and proprietors are one of the best in the region.