Though it may seem like the easiest option for your small business real estate, leasing can leave you vulnerable to rent hikes, displacement, and a general lack of control of your space. Given real estate is essential to the success of your business, you may want to consider lease-to-own.
Lease-to-own partnerships are a fantastic opportunity for small businesses to own their retail space. Instead of having to save up a ton of money for a down payment or deal with the competitive renter’s market, business owners can secure their dream property and put a portion of their rent towards a down payment to purchase it. If you’re looking to secure your retail space for the long-term and add an impressive asset to your financial portfolio, using a lease-to-own model is the easiest way for small business owners to own their property.
But how do you get started with a lease-to-own model? And how do you find a retail space for rent near you? We’re breaking down those questions in the blog below.
Unfortunately, you can’t apply the lease-to-own partnership to every shop available for rent. The best order of business will be to get in touch with a company like withco, a real estate company that has designed its lease-to-own partnership process specifically for small businesses. The small business real estate team at withco will discuss your real estate goals, business financials, and your current lease status. To find out more about who qualifies for lease-to-own, click here.
Lease-to-own partnerships allow you the security of owning your real estate without the expensive cost of a down payment on a mortgage. Instead of sinking your capital into the large cost of rent each month, you could actually be earning a down payment to purchase your property, building up your net worth and generational wealth for your family.
Even if you have the capital to pay for a down payment on a mortgage, you may not want to tie it all up in a single, costly asset. Our lease-to-own model allows you the flexibility to use your capital to run your business, while we take care of the real estate.
So, how does it actually work?