Benefits Of Space Renting
The latest trend for procuring business premises is by renting them. Renting of business premises has become popular because of the availability of offices in different sizes at different locations. There are number of benefits of taking a business space on a rental basis.
Benefits of acquiring space on a rental basis for a small business unit are:
- It provides the business owner a flexibility of renting the premises:
If a small business owner opts to take business premises on a rental basis, he is not locked into the ownership of the property. The business owner can negotiate a contract on mutually favourable terms with the landlord. He has the option of a long-term or short-term lease. The business owner has the option to move to a bigger location to expand his business. The terms can be modified at the end of the lease.
- It benefits the business financially:
Upfront the expense involved in renting business premises is much lower than that involved in purchasing it. Even if the businessman pays a deposit towards the lease of the rented premises, less capital is tied up compared to buying it. Hence, if a businessman rents a small business office, it makes more economical sense. This is because he can reduce his expenses towards the office space and invest it elsewhere in his business.
- Maintenance of the rented business property is usually done by the owner:
This helps in reducing the effort and energy required for maintaining the business premises. The property is maintained by the owner and the businessman only needs to pay maintenance charges which may be included in the rent. This enables the owner to concentrate his efforts on the growth of his business.
Owners of different types of business premises benefit from renting out their space because:
- Demand for small business space is high
Today due to an influx of startups, business premises are in great demand. Especially, the number of small businesses is on the rise. These businessmen are on a lookout for space to rent for a business.
- There is more stability with a tenant occupying a business space
In the case of a businessman occupying business premises on a rental basis, there is less likelihood of the person moving out. This is because if a business gets established at a place, the businessman will be hesitant about risking another location.
- Contracts are generally not for very long durations
This benefits the landlord because he can raise the rent while renewing the contract. When the businessman occupies the premises initially, the landlord might offer the space at a low rent. As the business gets established, the businessman may not want to move from the space. This benefits the owner as he can raise the rent.
- It is easy to find tenants
There are numerous space listing websites available where owners of business premises can list their extra space to rent and connect with space seekers.
For your business space in Australia, list your space with Smarter Spaces and find a tenant for it!!
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