Why Leasing an Office is Better for your Business

A pivotal decision for the management of any company is choosing between purchasing and renting an office space. Both options come with their own benefits and considerations, and in this article we’ll be exploring how leasing an office can be advantageous to your business, giving you the funds and flexibility to grow further. 

Lower overall costs 

Ultimately, overall costs will be generally lower when you opt for leasing a space over purchasing. Consider it this way – when you lease an office, all you have to pay for is rent, upkeep and utilities, depending on the agreement. If you share a building with other tenants, these costs will be divided between yourself and the other companies who lease at your chosen location. 

Contrast this with purchasing a building or space, which is a significant investment and a large chunk of money to let go of. As leasing is a more cost-effective option, many types of business can benefit from such an arrangement. Smaller SMEs and startups will likely reap the most reward from leasing, enabling you to begin growing your savings with greater ease. 

Having this larger pool of money to play with allows you to respond more easily to opportunities and misfortunes that may present themselves in the future which, once again, is hugely advantageous for a business that is still growing. 

Flexibility with business growth 

The nature of business means that the rate of your success and growth can sometimes be difficult to predict. For example, if you expand more rapidly than expected, then you may find yourself requiring a bigger office space to meet this demand. On a slightly more negative note, if your company is not doing as well financially as you hoped, you can easily downsize without much hassle. 

Leasing, therefore, gives you this flexibility to move between different office sizes with greater ease to respond to your changing needs as a company. Purchasing, on the other hand, locks you into a certain space and poses more difficulty to move to a more suitable office. 

Fewer maintenance responsibilities 

Depending on the terms of your rental agreement, your maintenance responsibilities may be much fewer when compared to owning a premises. Ownership requires a much higher level of responsibility and expense to keep the building in fully functional condition. 

This may not be so much of a concern in rental agreements, where maintenance services may be provided by a building manager, allowing your costs to be much more stable and predictable. Consequently, this allows you to dedicate more time and funds to expanding the scope and capabilities of your company. 

Enjoy bespoke fit-out and furniture 

You may wonder whether leasing will stop you from making your mark as a company when it comes to decoration. The truth is that most landlords of commercial office spaces will allow you to install and incorporate your own decorations and fittings. This allows you to express the brand, ethos and personality of your company to your visitors, as well as reinforcing it to employees to make them feel part of something.  

A bespoke fit-out company can work with you to turn an empty shell of a rented space into a workplace that feels truly your own. This can be achieved by incorporating colours and design elements of your brand into the decoration, and also by creating and fitting bespoke furniture that’s both comfortable and reflective of your brand. 

All-in-one fit-out companies can also carry out all the finer details too, such as lighting, plumbing and office partitions to divide up the space. Simply put, fit-outs are a vital way of establishing a sense of productivity, motivation, and company identity and spirit to your employees and guests. 

Tax benefits 

Another enticing draw of leasing an office space is the tax benefits. As a general rule, when you lease an office, any rent that you pay is tax deductible. This is an excellent way to reduce the amount of tax you pay, freeing up more funds to pursue avenues such as fitting out your leased office space with all the mod-cons it requires to be a functional, beautiful space for employees to enjoy. 

Benefit from little extras 

Depending on the building you rent a space within, your company can also enjoy little extras, such as a gym or cafeteria, since many leased buildings incorporate these community spaces. When leasing, you can benefit from these social areas without the stress and expense of constructing your own in a purchased building. 

Arc Business Interiors are a leading provider of full bespoke fit-outs for offices and other commercial spaces. We have the expertise to transform concepts into a reality, and we do this through a comprehensive and collaborative approach. To find out more about our workplace refurbishments and fit-outs but businesses across the East Midlands, simply contact our friendly team today.