Renting an Office may seem like an obvious choice if you run a business. After all, you need somewhere for your employees to work together. In this scenario, we’re assuming that working from home doesn’t work well for you. You tried it, and it failed. You need office space, but should you Rent it instead of buying or building somewhere to work? In reality, renting does have some advantages, but there are a few significant disadvantages to be aware of. Here are three reasons NOT to rent an office for your business: Rental payments aren’t fixed When you buy an office, you will probably take out a mortgage. As a consequence, you’re left with mortgage payments every month. This seems like it’s the same as paying rent, but there’s one major difference. Mortgage payments stay at the same rate until you’ve paid them. Well, interest rates can alter them slightly, but you can always remortgage, etc. The bottom line is that you have more control over the repayments. With rent, you’re at the mercy of the property owner. They can easily increase the office rent whenever they like – and there’s nothing you can do about it. In the space […]

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