These days, you have plenty of options when it comes to running a business. Will you run it from your house or will you run your business in a commercial space? If you’ve decided to run your business in a commercial space, there’s the decision of whether you’ll lease or buy a commercial space. Both options come with their pros and cons, however, many business owners are choosing to lease a commercial space. Here are three reasons why:
No Down Payment
When you purchase any building, you’re usually required to put a down payment of 10 to 40 percent of the total value. Not everyone can afford to put that much money down on a space. Leasing a commercial space means you can avoid a down payment. Instead, you put down a security deposit. A security deposit usually costs much less than a down payment.
If you’re a business owner who’s on a strict budget, foregoing a down payment makes leasing a commercial property the best option for you. It will free up a lot of your capital that would’ve been spent on a down payment and allows you to invest it elsewhere.
Don’t Have to Worry About Repairs and Maintenance
When you lease a building, you don’t own it. That means you aren’t responsible for common area maintenance and repairs. Maintenance and repairs on a commercial property can be expensive, and luckily when you lease a building your landlord will be responsible for those expenses. That means that you only have to worry about expenses pertaining to running your business. You can leave property management and maintenance to your landlord and focus on other more important aspects of your business.
Leasing a commercial space allows you to be flexible. You’ll have access to more desirable locations, you can lease a space that you may not have been able to afford to buy, and you can move out of the property when the lease is over without having to sell it. This is especially helpful if you’re a new or rapidly growing business. Buying a commercial space doesn’t allow you to be as flexible.
Ready to Find Your Perfect Commercial Space?
When you’re looking to sign a lease for a commercial space, Tomarchio Enterprises is there to help you through every step of the way. Whether you’re looking for Seaford, DE retail space, or Frederick, MD retail space, we have the perfect space for you. Contact us now for more information.