If you’re starting a venture in the area, then you’re in the right place, considering that H-Town ranks high among other cities in the United States in terms of ease of starting a business. The business environment here is also alive and thriving.
If you have everything figured out, but still unsure whether to rent or buy an office space Houston, here are reasons why renting may be a better option for a startup venture like yours:
Low Financial Investment
When you opt to rent, you do not have to worry about paying a substantial sum for the down payment. You only need enough money for the deposit, which usually amounts to at least a month’s rent. Note that you can use this deposit when you intend to move out of the office space later. Once you sign the contract and settle the deposit, you can move-in immediately and use your remaining money to grow your business.
It may interest you to know that renting an office space in Houston is more affordable today as landlords tend to offer their properties at a lower base rent. A recent report revealed that a Class A office space in the Houston central business district decreased slightly from $44.47 to $44.23 per square foot. The same downward trend in rental rates is happening across office spaces for rent in the city.
Access to Prime Locations
Business location is vital to the success of a startup venture, primarily if your industry relies heavily on the right image and branding. Renting allows you to access prime office spaces that you cannot otherwise afford if you’re buying.
When you rent, your options are practically unlimited since there are more than 300 million square feet of workspace available to you in various submarkets. To ensure that you find the right rental office space in the area that you like at the best deal possible, it would be extremely helpful to work with a reputable tenant rep in Houston. You can ask a friend for referrals or go through an online office referral network like OfficeFinder.
Given the favorable business climate in Houston, your venture has a better chance of growing and expanding. When this happens, you may need a larger office space or a different location to house your company. This situation isn’t an issue if you’re renting since it will be easy for you to move out and find a larger workspace anywhere in the city.
You do not have this kind of flexibility if you will buy a property. Before you can relocate, you must first sell yours, which is not only tricky but will eat most of your time and energy.
Peace of Mind
As long as you ensure that the rental agreement protects your interest, it will be less stressful to rent than to buy a workspace. Imagine, you do not have to worry about building maintenance and security. You can go home thinking about ways to improve your company than worrying about who to call for repairs.
While the decision to rent or buy is ultimately yours to make, you should consider the benefits of renting when making your choice. Apart from weighing the pros and cons of renting or purchasing an office space in Houston, make sure to think about which option will allow you to grow and improve your business more.Updated Date: 15 November 2019, 12:44