There is an ongoing debate concerning residential property: whether it is better to rent or buy. In the area of commercial property – offices, warehouses, shops, industrial units, etc – the debate is no less controversial and those involved in commercial property management will say there are often many more than two sides to this story.
Part of the problem concerns the word 'better'; it covers a multitude of definitions. You can hire a property expert in Pinellas Sarasota by visiting www.davidkinnard.com/. When thinking of buying or renting commercial property consider the following:
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Market Sector – the actual sector the business operates in will also determine whether to rent or buy commercial property. Plenty of service-based businesses will operate out of smaller offices within office buildings that are only available for rent. Businesses that require intensive re-investment in capital may also find this re-investment is a better use of available finance.
Location, location, location – a cliche in commercial property management but also very true. Not only does the availability and price differ greatly between locations, but the value of that location will also differ enormously according to your business.
Finance – the ability to finance a purchase of commercial property, and the cost of that finance will, of course, be an important factor, especially in today's business climate where lending is restricted and cautious.
Those working in commercial property management will offer advice on other aspects of buying – any tax advantages, Personal Pension benefits, etc. Many businesses put the commercial property into a Holding Company to maximize its tax benefits. Make sure you seek professional advice.
These are just some of the factors to consider when facing the age-old question of whether to rent or buy commercial property