Although some businesses are persuaded into purchasing a building; the most successful companies prove the many advantages to leasing their commercial real estate.
- WHY COMMERCIAL AND RETAIL LEASING IN GRIMSBY ONTARIO IS THE WAY TO GO
- WHY CHOOSE GRIMSBY CONDOS OVER ANYTHING ELSE?
Following the best course of action for all property decisions is key, as to not hinder the prosperity of your business. Listed below are the top reasons why leasing your commercial space is the right thing to do versus buying your own building. You are sure to find that it’s both practical and profitable to lease a Grimsby Waterfront condo today!
- Reduced Costs Overall
For starters, the move-in costs would be far less expensive when leasing because all they would require is a security deposit and that month’s rent. When buying, however, you’ll need to deal with extra loan fees, added purchase-related expenses, plus a minimal 10 per cent down on any given loan.
On top of these unwanted charges, you may even need to renovate or remodel the commercial space. Whether you hire contractors or do the work yourself, it’s still going to rake in a larger bill than expected. With leasing on the other hand, your building will be completely ready to go without any hassle involved. Your landlord or condo corporation will even take care of any maintenance or upkeep in the building, saving you both time and money in the long run.
Contrary to popular belief, most tenants find that leasing makes for a better deal on a month-to-month basis. Because one hundred percent of your company’s lease payments are usually deductible, leasing is further discounted on an after-tax basis allowing for significantly lower monthly occupancy costs. For buyers, however, only the interest portion of a mortgage payment would be a write off. Leasing also brings in cleaner balance sheets as your commercial space would have absolutely no impact on your overall assets and liabilities throughout the years.
- More Possibilities and Wiggle Room
The times are continuously changing and improving, so there’s no doubt that your business would do so also. Whenever it’s right for you to upgrade your building or change locations, leasing will give you the freedom to move about as you please without any extra baggage. There will be no need to stress over property sales because you have now placed all of the risk into the hands of the landlord.
Grimsby waterfront condo’s offer commercial spaces that promote reduced capital expenditure liability through their secure lease renewal negotiation. You can then require the condo’s association to make any necessary upgrades, updates or repairs during your time as a tenant.
Choosing to lease allows you to become the author of your company’s fate, putting you in control of all necessary decisions and the ultimate success of your business. Don’t leave these things up to chance, but rather invest in a Grimsby waterfront condo commercial space today.