Benefits of Leasing vs. Purchasing Commercial Real Estate in South Carolina
As a small business owner, you understand that the larger your business, the more commercial space you will need. Growing pains can cause issues that can severely hinder the growth of any company. One challenge that growing small businesses face is whether to purchase or lease commercial property. We have put together a list of some of the benefits of leasing commercial real estate in South Carolina as opposed to purchasing property.
Benefits of Leasing Commercial Real Estate in South Carolina
· No down payment – Typically when leasing commercial real estate in South Carolina, no down payment is required. This allows you to conserve your cash flow for growing your business as opposed to paying for commercial real estate in South Carolina.
· Repairs handled by management – When leasing commercial real estate in South Carolina, you do not have to worry about repairs related to the property that you are leasing. This means that if the roof leaks or the building needs painting, you simply call a your commercial real estate management company in South Carolina and they should take care of any issue that you may have related to the maintenance of your property.
· Easier to budget – When you only have to budget for rent as opposed to a mortgage and potentially costly repairs, keeping your budget under control can be much easier. Leasing commercial real estate in South Carolina as opposed to purchasing allows you to keep a better handle on your budget from month to month for office expenses.
· Relocation options – Where will your business be in 10 or 20 years? Chances are, you have no idea. Leasing commercial real estate in South Carolina prevents you from being tied down to one piece of property for the long haul. With a commercial real estate lease, you are only bound by the length of the lease. Depending on your situation, this could typically be one year or longer.
If you have decided to lease commercial real estate in South Carolina, it is important to find a broker with plenty of experience in the Spartanburg market. Spencer Hines Properties has been in business since 1993 and has seen a number of cycles in the local real estate market. If you want an advocate in your search for the perfect commercial property, give Spencer Hines a call today at 864-583-1001. Whether you need investment, brokerage or property management services, Spencer Hines has you covered.