The better question is, “Why Rent?”.
With today’s low, fixed interest rates, buying or leasing-to-own can be cheaper than renting. It’s like a built-in savings plan for your company.
In the past, small businesses only had two options for locating their business; to rent from a property owner or invest a sizable amount in building their own property.
Rental rates increase 3% to 5% each year, which means it costs small business owners more and more each year to stay in the same location. Rental money will never be recovered, and it will not increase the bottom line of your company! Renting also means that landlords make all decisions regarding your property. Upgrades and modifications are often out of the question, and you depend on them to maintain the appearance and functionality of your property.
Renting increases the wealth of the property owner, not you! They receive the majority of the tax breaks, and they count on your rent escalating over the years.
What does this mean? A rental agreement guarantees that:
You will enter into a fixed lease term.
Your rent and expenses will increase 3% to 5% each year.
You do not own an asset that is appreciating.
Your tax benefits are greatly limited.
Renting provides no security for your business.
The Downside of Building
While building or renovating your own space can be a better investment than leasing, it's risky and time consuming.
Research has shown that in today’s market, purchasing an office space similar to those at the Lake Wylie Business Centre is a more affordable option. It will cost a business more to purchase land, go through the red tape for permitting, and building the facility. Furthermore, permits alone can take a year or more, depending on the jurisdiction.
Buying or Leasing-to-Own an office space at the Lake Wylie Business Centre builds equity and appreciation for your company! You own your office, and you make all of the decisions.
Purchasing office space also brings security for your business. Fixed financing rates are historically low, which means you lock into a payment that will not increase. No one can force you out of your office by not renewing your lease. You can plan for the future and know that you are increasing the bottom line for your company! You can also enjoy the many tax benefits afforded to property owners.
Our unique concept also gives you the option to customize your space and size to meet the needs of your business. The result is a fully customized office space, built for you in minimal time at a minimal cost.