Posted on: 6 June 2019
If you are in need of new office space for your business, you have the option to buy some real estate or sign a lease agreement for a space. Before you jump up and proclaim that you should buy something, you will first want to consider why making use of the available real estate for lease may be the better option. Here are some of the points that you are going to want to take into consideration:
You Don't Have To Repair Stuff
One of the nicest things about leasing an office space is that when something breaks, it is not up to you to get it fixed. So whether there is a broken pipe, a cracked window, or a malfunctioning air conditioning system, you will be able to ask the owner of the building to make the appropriate repairs. Of course, before you sign your lease agreement, you will want to verify what is actually included with the space. For example, some owners will state that they are not required to keep up with AC repairs, even if the AC was in working order when the leased was signed. You want to double-check that you know what you are signing up for.
You Can Leave And Relocate If You Want
With a standard lease agreement, you should find that you are expected to make lease payments for a set amount of time. After the lease is up, you are free to pick up and move your business anywhere that suits you, whether it's down the street or across the country. You may be able to break the lease agreement sooner if it is absolutely needed. However, you may be expected to pay an early termination fee, which could be the total amount that is left due on the lease.
Your Payments Can Be Deducted From Your Taxes
When you buy a commercial property, you may not be able to write off the mortgage payment. However, when you are leasing a space, you can write off the monthly lease payments as one of your many business expenses. This can save you a lot of money come tax time.
Now that you have those points to consider, you will be much more likely to want to go ahead and find the perfect office space to lease. If you need help finding the ideal office space and lease agreement, you will want to consider consulting with a real estate agent. They don't just help with the outright purchase or selling of real estate. They can help with rentals and leases as well. Talk with an agent today so you can hopefully be in your newly leased office as soon as possible.Share