As with people who are looking for a home, the idea of buying or renting an office space is a dilemma, as there are advantages and disadvantages in both cases. You can compare the two solutions by taking into account factors like your budget, the location, the surface, what changes you can make to the available space etc.
Still, which one is best solution?
The answer may be different for each business. For a company that rents a location to carry out its activity, it is easier to pay for a monthly rent, than to block a consistent amount of money necessary to buy an office. Not to mention that smaller companies of startups may not even have that kinds of money. However, for companies that can afford their own office, this can be a matter of prestige.
The Benefits of office spaces for rent in Denver
There are some obvious advantages, if you decide to rent Denver office space for your business:
- Affordable monthly costs
- Possibility to move at any time, whenever you need a different space (larger, different amenities etc.)
- No worries about costs and responsibilities related to being the landlord
- Small investment
- Solution suitable both in the short term and in the long term
- Keeping up with the dynamics of the fields of activity. If your consumer audience or other parameters change, you can easily move to wherever you might be in the spotlight
A rented office can be fully furnished and equipped, which means that you will already have everything you need to carry out your activity. In addition, you will not have to bother to keep up with office technique, maintenance and decorating trends.
Even if you do not share an office, you will encounter other businesses in the office building where you rent the space. While they may not be companies in the same niche or industry as you, you may find that talking and connecting with these other businesses is beneficial to your productivity, as a company and as an individual, and that you may even get unexpected contracts. And all this because you opted for renting an office.
Renting can also be advantageous from a fiscal point of view. Indeed, it is possible to deduct the operating expenses related to the rental price in order to reduce the taxable profit of your business. This includes, of course, rent, but also professional insurance and operating costs.
Advantages of buying an office for your business
Buying an office involves much higher initial expenses, but it has its advantages, for companies that can afford such an investment.
Control – the company owns the space, so it will be able to arrange and optimize it as needed. In addition, there is no fear that, at some point, the landlord might come and ask for the cancellation of the lease contract just because they found a tenant willing to pay more.
Long-term investment. Over time, the property can gain in value, so, in the case of a possible sale, it may bring an interesting profit.
Elimination of substantial monthly costs. Rent is an important monthly cost for a business. Removing the rent from the list of monthly expenses leads to an important saving – and the saved resources can be directed to other departments.