Office leasing is an implied or written contract where the owner of an office grants the second party the right to its exclusive possession and uses for a certain period under some specified conditions. Office leasing is the smartest move to take especially if you lack enough capital to help you in the purchase of commercial buildings, Statistics show that a lot of small business grow by their owners starting out by leasing office space.
Office leasing is very important because it has many benefits. One of the obvious benefits is the flexibility it provides because when the lease is over you can relocate easily to another office that better suits your needs and the budget. The property manager will be responsible for everything hence you will have fewer responsibilities, He or she is the one to be responsible for matters to do with security, maintenance, and all the other issues.
Office leasing is important in that there are deductible payments if the internal revenue service agrees. When you purchase a building you will pay 20 to 25 percent of the price as a down payment while when leasing an office you will only need to pay one or two months of the lease which a real blessing for small business owners.
When your business leases office space then your income tax return will be filed easily hence leading to less tax paperwork.
Leasing makes it easier to keep easier with technology because it will be attractive especially if your business relies on technology like computers and communication devices. Unlike banks that will require seeing many years of your financial records in order to give you a capital equipment, leasing companies will only require a few months hence making leases easier to finance compared to purchases.Leasing is advantageous because it frees up cash hence improving cash flow in your making you to avoid any related financial problems from occurring at your company.
When you want to find and lease office space, there are things you are supposed to do first. First of all estimate your budget because knowing your budget will help you to narrow down options quicker and also save you from paying higher payments than you can afford. It is crucial to consider how long the lease term will take because it is the one that will enable bargaining and negotiations, If you have a one-year lease agreement then you basically have no negotiating power.
It is also good to look at the interior and exterior views especially if you aren’t renting the whole floor of the building because this affects the price, When you want an exterior space then the quality of the view will play a factor.