The obvious reason for leasing office space is because you need an area where you can conduct your business. With that in mind, the question then becomes why rent instead of buy? And that is the question we will tackle in this article by RDS Real Estate, serving the Greater Fort Worth Metro area, as well as Parker and Johnon Counties, with affordable and flexible commercial property for rent and industrial space. Call us at 817-439-3224 for more information and to arrange with our leasing agent to see some of our advertised properties.
Alternatives to leasing office space and reasons against them.
We already mentioned the option of buying but, quite frankly, if you are not independently wealthy, this option is out of reach. With commercial real estate prices at their current levels, this option is only available to those with a serious line of credit at the bank.
What else, then? You could work from home, and this is certainly an option used extensively during the COVID years, and one still used today. It is an affordable solution for sure. But it does raise the question about lost productivity and a tendency to burn out when home life and business life collide, not to mention the fact that your home will be taken over by the business sooner rather than later. And then there is the question of zoning. Can you even operate a business from your home in your residential area?
How about buying a shipping container, the kind which we all see at construction sites, and placing that container on property and calling it an office? Certainly, a viable alternative. Used containers can be purchased at a reasonable price, certainly far less expensive than traditional commercial property; however, it still leaves you with finding property to place that container, which takes us back to the cost of real estate these days.
So, let’s move on and take a look at office space to rent.
Reasons for renting office space for lease?
Leasing office space offers advantages such as low initial financial commitment, enhanced liquidity, flexibility for business scaling, financial incentives like tax deductions and controlled operating costs, conservation of capital for business growth, and the opportunity to maintain a prestigious business image with outstanding locations.
The most important of these in a tight money market is the low initial financial commitment. First and last month’s rent, plus damage deposit, is considerably less than ten-or-twenty percent down on a property costing $300,000. And no, the tax deductions are not as great as if you purchased, but they are still considerable and still very helpful.
Weighing your options and looking for the best of them.
And those, in a nutshell, are your options. We cannot weigh those options for you in an article. That requires you possibly seek counsel from your banker and/or lawyer, and seriously weighing your options. The only thing we can do is show you the options available. We will leave you, though, with one word of advice: don’t rush into this decision unless you absolutely have to. This is a decision which can literally make, or break, your business, and as such it is a decision which deserves long, hard, consideration.
A final word about RDS Real Estate.
RDS Real Estate is locally owned and operated with over three million square feet of industrial property or lease and commercial property for lease. Call us for all of your property needs i.e. warehouse for rent, shop for rent, office warehouse for rent, retail space for lease, etc.