As a small business owner, purchasing commercial real estate in Denver may not be an option for you at first. That does not mean you cannot move your business into a local commercial building that will help bring more customers into your establishment. Leasing is a perfect option that is realistic for many small business owners to help them flourish and thrive!
Also, it is a go-to option to grow your business before needing to buy. A rule of thumb is to choose leasing if you plan on leaving a building in seven years or less. Leasing is a great way to grow your business, and then allow you to move to a bigger facility to accommodate your needs.
When it comes to leasing commercial real estate, The Sherman Agency can help. We will help you find the perfect location to help your small business grow that fits within your budget. Plus, if you think you are ready to buy, check out “Making the Leap to Purchasing Denver Commercial Real Estate for Your Small Business
- Lower Costs Upfront: Leasing a space allows you to forgo needing a high down payment, which depending on your financial situation can be up to 10 to 20 percent. With leasing, you will pay a security deposit much lower than a down payment along with your rent. Often times you may have to just pay the first month upfront and may have to pay a broker’s fee or inspection costs.
- Great for Starters: Leasing commercial real estate is a great option for those who do not have the capital to buy. It allows you to build and grow your business to prepare you to be able to buy later down the road. It is also great if you need to build your business’ credit as it does to have the same requirements needed to buy. Also, as mentioned above, leasing is great if you need to grow your business to be able to eventually buy a premier space that meets your demand. It may take a few years to get there, making leasing a great option to build your customer base and establish you in a community.
- Covered Repairs and Maintenance: Often times with leasing, your building will handle all of your maintenance and repair needs allowing you to focus on your business and not having to hire a maintenance technician or staff to cover the every day wear, tear and other issues with the building’s quality that may arise. This time and budget savings option eases the minds of many small business owners as one less thing to worry about.
- Flexibility: Leasing commercial real estate is one of the top ways to have flexibility for your small business. If you find you need to move, you can easily when your lease is up—or have the option to potentially sublet it if you need to move sooner. If you have to use this option, it is best to be sure it is allowed with your landlord.
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