It may not be a question as old as time, but some business owners and entrepreneurs in the Boise Valley struggle with the decision if they should buy or lease their office space. Statistics show that most new business owners start out by leasing office space, and many business consultants advise leasing your work space until you get on your feet and your business starts operating in the black. There are also some other advantages to leasing your business property in the Boise Valley:
- Flexibility. One obvious advantage to leasing property is the flexibility it provides. When the lease is up, you can easily relocate to another office that better suits the needs of your business and your budget.
- Fewer responsibilities. The property manager or landlord is the one responsible for maintenance, security, remodeling, and other management issues.
- No mortgage. Not being locked into a mortgage loan allows you to free up cash and put it where it is needed, which is especially helpful for new business owners.
- Negotiable rates. If real estate properties in your area are plentiful, it may be possible to negotiate a lower price on your lease amount.
- Less tax paperwork. If your business is leasing office space, your income tax return will be simpler to file, compared to the endless forms that building owners must fill out.
- No down payment. When you purchase a building, you typically pay 20 to 25 percent of the price as a down payment and then mortgage the balance. When you lease office space, you need only pay one or two months of the lease value before moving in, which can be a real blessing for cash-strapped small business owners.
About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs in Boise, Meridian, Nampa, and the greater Treasure Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime Boise and Meridian locations. More information is available at www.sundanceco.com or 208.322.7300.