Renting is a great option for a lot of business owners and it is very easy to see why. You will most likely be able to find an office space in a good area that will cost you a lot less than if you were to buy that same space. A lot of people want an office space in London, however that has a few disadvantages and sometimes people are better off looking for spaces in nearby areas and in this article we will talk to you about some of those disadvantages of office space for rent.
The property ladder simply isn’t fair
There is no other way of putting this except that the property ladder isn’t fair and is never working to your advantage. No matter how long you are in that space and how regularly you pay for your rent, you will never see any of the benefits that come with being a property owner. Property usually gains value over time and no matter how long you are renting a certain space, you will never benefit from those gains in any way.
Multi-occupancy can be a problem
If you are in a multi-occupancy office, then it can either go great for you, or the complete opposite of that. This is because there is simply no way for you to even know you will be sharing that building with you, or even who will be in the office next to yours. Another problem with this is that if you are ready to expand your business and buy a shop, a lot of the time people would also want to buy the space above the shop, but that may not be an option for you if the space is already occupied.
You may outgrow the space sooner than you think
This is a disadvantage of office space for rent for a lot of people because once you sing that lease that commits you to be there for a year, then there is nothing that you can do about it. A lot of business owners tend to underestimate how much their business might grow within the first year and a lot of the time the office space in the center of London that was great for them, stops working after only a few months. This means that you will have to start looking all over again and risk paying extra and this is something that you can avoid if you buy a space that is bigger than the current needs of your business.
London is a very tempting place for a lot of business owners. After all, it is one of the most famous cities in the world and it can be very easy to see why someone would be attracted to it. There is no doubt that a space in the center can be very good for business, but sometimes the disadvantages of office space for rent in London can outweigh the pros and it may be better for you to look for spaces that are near London instead.