August 7, 2017 So your business is growing, and it’s time to think about acquiring a new space. Whether you’re looking for an office, retail, or industrial property, there are a few important factors to consider when deciding between leasing or owning. Depending on the path of your company’s future, it may be beneficial to rent instead of buy. From smaller upfront costs and long term fees to increased flexibility, consider these three benefits of leasing before you take the next step. Suter Brook Village in Port Moody offers 100,000 sq.ft. of retail space. No Down Payment Whether you’re just starting off or you’re expanding, a down payment requires a significant amount of capital that could instead be used to invest in your business. Do you have that kind of extra money on reserve? Even if you do, tying up all your money in one place could take away from future opportunities. Leasing gives you the benefit of cost stability and predictability, allowing you to spend your money on core business operations and leaving room for potential expansion. Campbell Heights, an industrial park in South Surrey boasting almost 350,000 sq.ft. More Flexibility Where will your business be in five years? Are you constantly growing or downsizing? If there’s no stability, renting is the way to go. There’s less commitment and more room for change. If your business is growing and you need to relocate, it’s easier to do so when you don’t own. The process of putting your space on the market can be filled with complications and take several months if not years. A lease makes sense when things are unpredictable, and allows your business to adapt to unforeseen circumstances. The Beaver House, a 65,300 sq.ft. office space in Edmonton No Maintenance Fees With ownership comes responsibility, as well as unpredictable costs. There are maintenance fees to think about, complex issues that arise, and potential problems that take focus away from your business. If the roof needs to be repaired, that’s coming out of your pocket. When you lease, you can concentrate on your business and stay clear from the unanticipated costs and distractions that come with ownership. From the city to the suburbs, we currently have retail, office, and industrial spaces available for lease in some of the most sought-after areas in Metro Vancouver, Edmonton, and Toronto. For more information, contact our leasing team to help you find a space that will best suit your needs.
