People attempting to start small businesses are in need of many things, but perhaps none more than office or warehouse space. In fact, the amount of occupied distribution and warehouse space has increased by 86.2% since 2000. Additionally, 2014 saw an absorption of 70.2 million square feet of office space by the American market, marking the highest demand since 2006. Whether you’re looking to get space or make money off of the space you own, the best option is leasing office space.
Leasing Office Space Is A Growing Industry
Leasing office space is a booming industry, with the potential for more growth as time passes. The American storage and warehouse leasing industry alone is worth $26 billion. Although it may be tempting to sell your space, you’ll actually make more out of your investment in the long … term if you lease your space. It’s a continuous income, and small business owners will always have a need for offices, retail space, and commercial warehousing.
How Leasing Retail Space Can Be Good For Your Business
Often, small business owners may be tempting to “make the leap” and buy their office or commercial warehouse space rather than renting. However, entering into an office lease agreement is easier than it sounds, with many real estate owners being very open to negotiation. In addition, you should consider the fact that many small businesses have problems getting afoot in certain locations, and buying space may be more commitment than you’re ready for in the long term. The great thing about renting a warehouse or office space is that, if the worst does happen and you do have to move to another location, you’re not saddled with the responsibility of owning unnecessary property.
Leasing Commercial Property Saves You Money In More Ways Than One
If you decide to lease property rather than buying it, you end up paying less. Rental properties are exempt from some of the taxes that come with property ownership, and often come with less expensive rates than those you would find with a mortgage. Certain utilities may also be covered by your lease, and when you’re already investing in things that come with owning a business, you’ll be happy to cut costs in any way possible.
Clearly, leasing space rather than buying is a big thing to consider. It may not be what you were originally intending when you decided to start up or expand your business. However, its benefits are too great to ignore, and the freedoms it gives you … whether you’re renting or offering a property up for rent … are perfect for those in the business world.