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3 Pros of Commercial Leasing
3 Pros of Commercial Leasing
If I am running a business, why would I lease space instead of buying? Isn't buying preferrable to leasing? Not always. Here are 3 pros of leasing your next business property.
- Ideal Location
You always want your business to be where the action is! That is why commercial real estate developers have conveniently built strip malls or strip centers with perfectly sized spaces to accommodate most retail businesses.
Oftentimes the cost to own in these busy demographic areas is beyond an individual business owner's reach. Leasing can make it possible to locate your business in these demographic hot spots.
- Focus on What You Do Best
Owning a commercial property requires a lot of maintenance and upkeep. It also requires financial strategy. When you lease, you can focus on your business and leave property-owning headaches to the Landlord. Keep in mind, however, that in most commercial leases, you, as the tenant, are responsible for the upkeep of all the mechanicals that serve your space. Be sure you can manage those responsibilities both in cost and staffing.
- Flexibility
Last, but certainly not least, leasing terms can range from one year to 20 years. I help my clients negotiate a term that matches their business plans best. In many cases, business owners will lease as they develop and grow their business. After those first three to five years, entrepreneurs may understand more fully how they want to grow or expand the business. At the end of the lease, you have the flexibility to leave and purchase a property, stay in the same location for another negotiated term, expand to a larger space in the same location or even open other locations in different areas.
Whatever type of business you own or want to own, Call Carmen! to discuss all the angles and determine the best option for you!
Carmen Osenbaugh
Commercial Sales & Leasing Specialist
Residential Sales Specialist
Irongate Inc., Realtors
937-307-0178
carmen.osenbaugh@irongaterealtors.com
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