5 reasons leasing an office is better than buying
If you’re looking for office space, chances are you’ve been faced with the option of buying or leasing. Leasing is the beneficial choice, particularly if you are seeking flexibility and need to keep cash available. Here are five reasons leasing is better than buying.
- You want your business in a nice, visible, high-end space. Leasing provides you with much more flexibility in doing that. You can find a space that’s great for business without shouldering the costs of owning in a high-end area.
- Maintenance support. When you lease a building for your office space, you are not responsible for costly repairs and regular maintenance that come with ownership. You can put your money toward business costs and expect maintenance support from your landlord.
- If you outgrow your office space, or the experience isn’t working out, you can easily move on when your lease ends. When you own it, moving on is much more difficult.
- No down payment. One significant benefit of leasing over buying is that you do not pay a down payment. This is especially beneficial for smaller businesses, who need to keep their assets as liquid as possible.
- Shared payments. Depending on the type of lease, your landlord or other tenants may share in the upkeep of the building and monthly costs like utilities and waste disposal. It’s helpful not to have to shoulder the burden on your own, as those bills can add up quickly!
Think about leasing before you invest in a building. It’s simpler, more cost-effective, and provides support when you need it so you can put your energy into your business.