As a business owner, you have to make a lot of important decisions. In your business plan, one of the most important decisions is determining if leasing a space for your office is better than buying a space. There are several benefits of leasing from commercial property managers in Calgary. Whether you are looking for a short-term rental period, long-term lease with options to renew, or targeting retail, industrial, or commercial space, a reputable property management company can guide you through the process.
Leasing space for your business is ideal if you are a small company just starting out or are changing the operations of your existing business. After you have discussed finances with a commercial mortgage brokerage company in Calgary, you will have an idea of your budget for business operations. Leasing a space will give you the flexibility to start small and grow as your business grows or change the direction of your established enterprise. When the time is right, you can opt to move from your current location into a larger or smaller building as your business needs change.
If you choose to purchase a space for your company instead of leasing, you may need to wait a substantial period of time before your building sells to free up the capital required to purchase a new building. Leaving your leased space behind to move to another location can be done quickly and easily through commercial property managers in Calgary.
When you want to stay on a budget, it is imperative that you know where your expenses are coming from. A leased premise allows you to know exactly the monthly costs for rent and operating costs. Simply put, you will be writing the same rent check every month. Generally, the building owner is responsible for any necessary repairs and maintenance necessary to keep the building in good condition. You don’t have to worry about calling a plumber or electrician if the water main breaks or the electrical panel shorts out. Be mindful, however, that this doesn’t apply to all commercial lease contracts. Always communicate with the landlord or commercial property manager to clarify what repairs are covered in the lease.
Purchasing a commercial building can be costly. You may not be in a financial position to put a substantial amount of money down to buy a place for your business. Whether you are a start-up or an established business, monthly mortgage payments can take a huge chunk out of your operating budget. Before speaking to a commercial mortgage brokerage company in Calgary, you should consider that leasing an office will keep those monthly payments manageable without putting unnecessary strain on your cash flow.
Do you know where your business will be in 5 years? If the answer is no, then now is a good time to start looking for a lease space from a reputable property management company. If your answer is yes, then commercial property managers in Calgary can find you the ideal lease space to set up shop!
The material presented in this blog is provided for general information and educational purposes only. It is not a substitute for professional advice. All information is subject to change regularly and without notice. CMS Real Estate Ltd. assumes no responsibility for any errors in the information provided, nor assumes any liability for damages incurred as a consequence, directly or indirectly, of the use and application of any of the contents of the blog/website page.
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