All businesses need a place to call home, and Resource Operations International (ROI) understands the competing appeal for owning or renting a location. Professional services from ROI include real estate, and here’s a quick guide to why a business would want to own versus rent.
There are many benefits of owning the property that your business is occupying. The biggest benefit is, as long as you are paying the mortgage on the property, there is no need to worry about last minute changes where and when you do business. You remain in complete control over every aspect of your location and can quickly adapt if and when the needs of your business require it. Everything from determining business hours, to assigning parking spots, to changing the color of the walls becomes much easier. It also means customers will always know where to find you and your business. Ownership of the location certainty is a boon to any business, and ROI’s real estate professionals are available to assist with this goal.
One of the biggest benefits of renting is not having to pay for the upkeep of a property. If a problem occurs or damage is done to the property, it is the landlord’s responsibility to make the needed repairs. Maintenance also typically falls to the landlord as well. Renting also allows businesses to avoid mortgage fluctuations, which keeps costs certain. There is a possible exception for leases with constantly changing terms, but ROI can help find real estate vendors that can help with securing long-term leases as well.
Learn about the benefits of each location option by contacting your local ROI consultant to get the best real estate advice for all types of businesses.