3 Benefits Of A Long-Term Commercial Lease
When you rent a residential property, it's not uncommon for leases for be rather short, such as for just a year or so. For many commercial leases, however, landlords often prefer longer-term leases. The good news is that this can be better for you as a business owner as well. These are a few reasons why.
1. Enjoy More Affordable Rent
First of all, you should know that in some cases, you might be able to enjoy a cheaper monthly rent price if you opt for a longer lease. Commercial landlords often lose a lot of money when tenants move in and out of their properties often, since it can take time to find new tenants and since they might have to spend money cleaning and freshening up commercial spaces in-between tenants. With a long-term lease, the landlord does not have to worry as much about these costs and may pass some of the savings on to you. This can help you cut some of the expense of running your business.
2. Feel More Comfortable Making Improvements
Even though you might not want to make changes to a residential property that you are just renting and not buying, the same is not always true for a commercial rental. In some cases, you may have to make certain improvements and changes in order to make a commercial property appropriate for your business. It can be disheartening to spend this money if your business may have to move to another property in a short period of time, but you might feel more comfortable making improvements if you know that this building will be your business' "home" for a longer period of time.
3. Avoid Having to Move
Moving your business from one building to another can be a big, expensive hassle, and it can even affect your profits, since location can make a big difference in the number of people who patronize your business. If you have a long-term lease, however, you will know that your business does not have to move for a longer period of time, which can help you run a more stable business and can save you a lot of hassle as well.
As you can see, if you are looking into commercial office leasing for your business and have been talking to landlords who are interested in a long-term lease rather than one with a shorter term, you might find that this is actually the best thing for your company. In fact, these are just a few of the benefits that you can enjoy if you choose to sign a long-term lease as a business owner.