Numerous entrepreneurs often face the question of whether to lease or to purchase a commercial space for their business. This dilemma is undoubtedly common even in a thriving industry such as Florida commercial real estate.
If you choose to seek professional opinion on this mater, a realtor will perhaps say that it essentially depends on your specific situation. Although the truth is, when it comes to this vital business decision, there really isn’t any one-size-fits-all answer. Needless to say, if you don’t have an adequate amount of financial resources to purchase a Florida commercial real estate property, then choosing becomes a lot simpler.
Nevertheless, leasing a commercial space may still be the smartest choice among all your options. According to statistics, the majority of new company owners start off with a lease contract for their office space as opposed to an outright commercial property purchase. In addition to that, a good number of business consultants recommend renting your workspace until your business begins operating smoothly.
To help you make a decision on whether to rent or buy a Florida commercial real estate property, try to find out the advantages of leasing a commercial space. Here are some of the perks you’d most probably get from a rental property.
A Smaller Number Of Obligations
The landlord of the commercial real estate property is the person responsible for security, maintenance, remodeling, and other property management issues. You, on the other hand, will basically hold fewer responsibilities concerning the commercial space thereby giving you more time on your hands to focus on your business.
One clear benefit of leasing a commercial real estate property is the flexibility it affords. Once the lease is up, you can simply move to another commercial space that is better suited for your business, as well as your budget.
No Mortgage Payments
Liberty from a substantial mortgage loan enables you to free up ready money and allocate it wherever it is considered necessary. This plus side is particularly advantageous to novice business owners.
Although the landlord usually receives the tax credit, a fraction of the benefit can still be passed on to the lessee of the Florida commercial real estate property in the form of a lower lease payment.
Less Tax Formalities
If you choose to lease a commercial space for your company, your income tax return will surely be easier to file as compared with the mountain of forms that building proprietors must typically fill out.
Since the Florida commercial real estate market features a wide array of selections to choose from, it is certainly possible to negotiate your way to a discounted lease price.
No Down Payment
Buyers typically have to shell out a down payment of around 20 to 25 percent of the total price. However, if you opt to lease a Florida commercial real estate property, you’re only expected to pay at least one- or two-months worth of lease prior to moving in. This aspect of renting an office space can be a real blessing especially for cash-strapped entrepreneurs.