Most of the time when people don’t have the money to actually buy an office space, they immediately turn to looking for spaces that they can rent. And while having an office space can definitely give your business a more professional edge, there are definitely a lot of disadvantages of office space for rent that you also need to think about. To help you out, we have put some of those disadvantages together to help you get a more clear idea of what you would be getting yourself into, so if you are interested then definitely keep on reading this article.
The costs are variable
Something that people love about renting is that they can pay the rent weekly, monthly or even anally. And while it is great that you don’t have to pay up a large amount of money form the get go just to cover the office space, the fact is that the price of any lease can vary. You may find yourself renewing a lease that has increased in price. This means that you will be paying more money for the same space and getting absolutely nothing from it and if you can’t afford the new price you will find yourself in trouble.
You may have to leave the space in short notice
This is actually one of the disadvantages of office space for rent that most people don’t think about, but that can become a serious issue pretty much over night. If, for example, you find yourself in a position where the lease price is increased and you cannot afford it, then you will be in a position where you have to look for a space on a very short notice. There are also cases where the landlord simply doesn’t want to renew the lease with the same person, and since that is his legal right you may find yourself, again, in a position where you have to look for something immediately.
There is no equity
Since the property isn’t yours and you are simply paying the landlord, it basically means that you will be funding that person’s retirement while getting absolutely nothing back. However, the only way for you to get the benefits from being an owner is to actually own something, but that means that you also have to be ready for all of the work that comes with that.
As we mentioned before, having an office space will make your business look more professional in the eyes of the customers, but sometimes all of the disadvantages of office space for rent are simply not worth it. If you don’t feel like all of the benefits renting brings outweigh the disadvantages, then maybe consider saving up some money instead of paying rent and wait until you can buy your very own space.