Which Is The Right Choice For Your Business, Long Term Or Short Term Office Rental?
Serviced offices for rent are a big help for businesses who find it difficult to buy a nice due to high market costs. But there is still some confusion when it comes to choosing between a long term lease and short term office rental.
Often a lot of entrepreneurs get confused when deciding whether to go for a long term lease or go forshort term office rental when getting a serviced office for rent. Most people who tackle this question are those who are in charge of running small business. The thing with small businesses is that a lot of these run on small capital, and getting a serviced office for rent can be a big deal.
Decide on the Basis of Your Requirements
In such cases, it is mostly the matter of the requirements of the business you are running. Make a decision after thoroughly evaluating your requirements, both current as well as for the future. Getting an office should be more about looking after the needs of your fledgling business rather than to make a statement of sorts.
Long term leases and short term lease both have their own advantages and disadvantages. You cannot make a sweeping statement stating which is better than the other. It depends on your requirements, and you can choose either option after weighing the pros and cons.
Advantages of a Long-Term Lease
With a long term lease in your hand, you can put your office worries to rest for a long period of time. Once you invest in a nice office space, you can sit with the comfort that your business will have a place to operate for a long time.
When you have taken a long term lease, it means that your rent will be fixed, and would increase annually in a controlled manner. This will help you plan your expenses accurately, as there will be no sudden increase in rent.
Advantages of Short Term Office Rental
With a short term lease, you can save yourself from committing to an office to a long period of time. This gives you the freedom to access your requirements and move to a different place at the end of your lease. In future, if your business excels and you need more space, you can easily move your business to a bigger location.
Many small business fail to thrive, and therefore a short term lease means that you won’t have to bear unnecessary expenses in maintaining your office if your business does not fulfill its expectations. You do not want to be paying rent months after your business has shut down.
Short Term Office Rental
Short term office rental offers many features, besides flexibility in payment and shorter period of commitment. Not only do you get the chance to use and pay for the office as per your need, you also get many added services like office maintenance and reception. Short term office rental saves you a lot of time and money, both of which you can invest in other areas of your business.
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