Benefits of Leasing over Buying a Commercial Property

William Gagnon
3 min readMar 1, 2022

The decision of whether to buy or look for Retail Space for Lease Ottawa Ontario can be perplexing for many startups and small company owners. If you question a skilled real estate broker, they would most likely say it depends on the circumstances. The fact is that there is no “one size fits all” approach when it comes to this critical business choice. As a result, every business owner must be aware of the benefits and drawbacks of leasing a retail property in order to make the best option for their company and employees.

The Advantages of Leasing Your Commercial Property

Leasing sounds reasonable for the majority of tenants. Here are some of the advantages of leasing a place rather than buying one:

· Renting a business property has a lot of flexibility.

Getting a Retail Space for Lease Ottawa Ontario can give your company more flexibility as it expands. You are not obligated to purchase the property. You may normally negotiate the duration of the rental lease with your landlord or have a break provision incorporated in the lease. This will allow you to terminate the rental contract (typically on a particular date) if you need to relocate. Renting a commercial property might also provide your room to haggle with the landlord. You or your agent can negotiate any component of the rental lease, either at the outset or if you wish to extend it once the rental lease expires.

· There’s Still Room for Improvement

The most important consideration when deciding to lease is flexibility. If you’re a growing firm, leasing is a far more convenient way to expand than buying. You can include expansion options in your lease, giving you first rights (sometimes known as “right of first refusal”) to any space that becomes available inside your building as your business grows. When you buy a house, your options are typically restricted by the size of the property or the zoning constraints of the land you want to construct on.

· There is no deposit required.

When you buy a house, you usually put down 20 to 25 percent of the purchase price as a down payment and then borrow the rest. When you lease the commercial building, you have to pay one or two months’ rent upfront, which may be a huge help to cash-strapped entrepreneurs.

· Attracts New Clients and Employees

Selecting a commercial office space for lease in a desirable region might attract fresh talent for your company’s growth, depending on the sector and type of your organization. A beautiful office environment may also attract new business by conveying professionalism and credibility to clients.

Conclusion

For most business owners, deciding whether to lease or buy office space is not simple. A mix of financial, tax, and company-specific variables will influence your selection. If your firm is steady, with little plans for expansion, and you have a lot of cash on hand; hence, buying your property can be a good idea. Getting a Retail Space for Lease Ottawa Ontario, on the other hand, is likely to be the best option for your company if it is fast developing and likes to reinvest funds in business expansion or development.

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William Gagnon
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Taggart Realty manages commercial and multi-residential properties, including: office buildings, shopping centres, industrial space and apartments.