Office Space - To rent or not to rent? - By: Dennis Moore Hopkins

To rent or not to rent? That is the question that befuddled William Shakespeare in his too famous line of, ‘To be or not to be.’ However, for the average Joe who wants to start up a business, the question of whether to subscribe to office space rentals or not could be the most crucial decision he has to make in his life. Before we jump into the bandwagon, let us first look at some of the advantages and disadvantages as well as reasons for renting office spaces.

In any businesses, we always have a target group. If it is an automotive business, the target group will be males in the age of 20’s to 50’s. So, the place where the business is conducted should be close to this kind of target group to maximize customer’s awareness towards the existence of such businesses. However, even after researches, would be able to correctly gauge the density of the target groups available in that area? So, the wise thing would be to subscribe first to office space rentals before making any purchase.

Moreover, if one was to make a purchase of office spaces for his or her business; he or she will be making a long term commitment. What if the business has to be closed down due to unforeseen circumstances, what will one do with that asset? The only viable option is to sell it off as soon as possible; however, the value of properties fluctuates from time to time. You could buy it at a higher price but sell it off at a lower price. It could also be said vice versa that if someone was to subscribe towards office space rentals, he or she would be paying more in the long run. So it is wiser to purchase the property instead of renting it. So, to rent or not to rent?

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