The Benefits of Leasing Office Space
At some point or other a business owner is faced with the decision of either leasing or purchasing an office space. To help you make your decision the following are a few of the benefits in leasing office space.
Being a business owner is not an easy task and comes with a lot of headaches. An Office Lease in Newnan allows you to give your full attention in your running and growing the business. It also allows you the flexibility of moving to another space if your business experiences unexpected requirements and you need more room or it is necessary to downgrade.
While you may not be building equity in leasing office space, you are eliminating the large down payment and other costs associated with purchasing a commercial space. Leasing is much more affordable, and you have the option of choosing a prime location with a high image. Furthermore, you are avoiding the required involvement needed for the business of property management. This money can instead be put back into growing your business.
An Office Lease in Newnan comes with fewer responsibilities. The property owner or landlords are responsible for all the repairs, maintenance, and securing of the property. Also, they are responsible for the property taxes on the commercial building. This can save you a good amount of money and time.
Short-term options are a very important benefit of leasing office space. Most leases are one to five years. Though your lease payments may increase after the contract has expired if you decide to renew. The lease payments will most likely remain the same for the duration of the current lease. It’s worth taking notice of the real estate properties and storage options, such as Greison Storage in your area. This can be a potential negotiating tool to lower your payment on the lease.
Even though you are leasing office space, you may still be entitled to tax deductions, while having less paperwork at tax time. According to the Internal Revenue Service, lease payments are considered operating expenses and therefore are deductible. You may qualify for an additional tax credit through equipment investments. From the time the equipment was first implemented into the business the tax credit allows you a dollar for dollar reduction in your federal tax return.