Growing Your Business: Benefits of Leasing an Office Space

Getting a business up and running is a feat in itself, and like most business owners, they’re in it for the long haul. Most people are aware of the long-term returns of including commercial real estate investment in their business plans. However, the equally relevant benefits of leasing an office space might be even more suited for certain companies.

Flexibility to Goals

As your business establishes itself, your company will inevitably have to evolve and undergo some adjustments to accommodate the welcome growth. With the addition of more employees or a larger inventory, the initial space your startup occupied might no longer be able to accommodate your diversifying operations. While purchasing a new property is an option, leasing an office space might be more in line with a company’s short-term goals and capabilities.

After buying a commercial space, oftentimes, the property will also have to undergo construction, customization, and inspections before being deemed fit for occupancy. If time is of the essence then leasing an office space can be a quick and seamless alternative to buying. Most office spaces for lease are also already customized to accommodate a workforce, and therefore only require minimal alterations before occupancy. Leasing also allows the business a certain amount of flexibility. A company leasing a property is bound to their office space only for the duration of their lease. After their lease agreement expires, they can opt to renew their contract or decide whether to upgrade or downsize depending on what is ideal for their current operation. 

As most start-ups outgrow their initial workspaces, leasing an office space is an ideal initial step for those looking at the near future. Another advantage to a time-bound lease, is being able to downsize and adapt to a hybrid work environment, should it prove to be more economically beneficial for the company.

Simplicity

Whether you’re a start-up or an established corporation, there are numerous factors that can make leasing an office space advantageous. Some companies prefer leasing just because it’s simpler. When buying a property, apart from the initial investment, in order to maximize returns in the future, the property itself becomes its own small business to manage. The maintenance, repairs, and acquiring of permits becomes an added responsibility that the property owner will also have to manage. 

Contrary to popular knowledge, not all properties readily appreciate in value. In order to avoid a property’s depreciation, the owner or landlord will have to build equity over time by keeping their property in an updated operational state to maximize future returns.  That means having to allocate further resources outside of the company’s core operations, to cover the cost of managing a property. 

Leasing, on the other hand, allows the company to focus all its effort on running their own business for a fixed, and reasonable overhead cost. Rather than monitoring their property investment, a company can allocate its resources to its own internal growth and operations. Should a property being leased require further maintenance, a tenant can delegate repairs to the landlord accountable instead of having to shoulder the work themselves.

One also needs to consider the resources available to the company. Purchasing a property is a long-term investment and will only begin turning in profits once the property itself has gained equity. With the smaller investment required in leasing an office space, a company can begin to generate profit in a shorter period given the lower overhead cost. 

Strategic Expense

When looking for the ideal space, location, and security can be essential to the growth of your business. In this current era of interconnectivity, being able to network your business can be key to a company’s flourishing future. Finding the right office space allows a brand the opportunity to get acquainted with other companies and create future collaborations. 

Needless to say, purchasing a secure luxury office space among the top players of an industry can drum up a sizable investment. On the other hand, leasing an office space of that same stature can prove to be the more economical option for keeping your company at the heart of the business district.

With a reputation for their strategically located commercial properties, Rockwell Workspaces allows you to lease sophisticated office spaces that can keep businesses secure, and relevant around their ideal network. Their wide range of office properties includes 1 Proscenium and The Podium Offices, among other office spaces within and beyond Metro Manila. For a fraction of the investment that buying property requires, leasing allows even any mom-and-pop to situate themselves amidst high-profile, and high-traffic communities.

With a vast array of sophisticated and secure office spaces, Rockwell Workspaces has strategically located facilities that can welcome the next era of your growing business.

For more information on available office spaces for sale and lease, inquire here.