There are numerous misconceptions about leasing commercial office space that give potential tenants the wrong idea about the market. This can result in businesses choosing an improper area or missing out on a better deal. Below are a few of the key myths about commercial office space rental.

Debunking Myths About Leasing Office Space

1. Seek the Lowest Rate

The base rental rate is only one of the factors your business should consider when selecting a home. As always, location is essential. For efficiency and cost reasons, you should be near clients and suppliers, and a cheap building far from the beaten path may cost you more in time, fuel, and lost business than you save in rent. Also, you must consider the entire rental package. If one property manager offers a generous tenant improvement allowance while a second does not, the latter's lower base rate may not seem as attractive.

2.  Leasing Is Better Than Owning

Owning your business's office space is a practical long-term goal. However, not every small business can or should purchase real estate. For instance, startups cannot always afford the down payment, while booming businesses need the flexibility of leasing to move or grow as necessary. If your business is mature and stable with little expected growth over the next decade, an office space purchase might be right for you. Otherwise, leasing is the best option.

3. Open-Plan Office Space Is Essential

With the success of high-profile tech companies, smaller businesses seek to emulate their formula by copying their open-plan, "creative" office space. However, this environment doesn't work for every company. Many executives need personal offices, and many workers perform better with privacy. Therefore, consider a space with cubicles and private offices for your business.

If your business is looking for new office space, contact Winmar Corporation, an experienced property management company in Lexington, KY. They have served tenants in and around Fayette County since 1951. They specialize in commercial real estate and office rentals. Call (859) 254-5755 with any questions about renting. To view their available buildings, visit them online.