As we know, there may be various types and profiles of landlord that can be found in the market in Singapore. Some may be corporate landlords while others may be individual or private owners. Let’s find out why choosing to lease from a reliable and reputable landlord can have its pros or benefits.
Stability & Reliability
When it comes to business, most business owners prefer more stability and less risk. This may be why some companies choose to lease from a reliable & reputable landlord which can be beneficial especially if you are serious about your business and are planning to be in it for the long term. While building specifications and rates may be one of the most important considerations for tenants, it may sometimes be worth paying the market rate or slightly more for business stability. After all, a peace of mind is probably worth paying for. Imagine getting the lowest rental rate you can find in the market but having to shift to a new industrial space just after a couple of months due to the lack of holding power of the landlord despite both tenant and landlord signing a long term tenancy agreement with a lease term of three years. That could really be a case of misfortune and disaster for the future of your company. After all, there are also other ways to save costs for your company besides just rental rates.
Initial Set-Up & Investments
Whenever your company takes up a new lease, initial renovations or fitting out and investments may usually be required. Some companies may invest huge amounts for the initial set-up for a better corporate image and stronger branding. Especially when you are planning to invest in renovations at the initial stage, it may be better to lease from a reliable, stable and reputable landlord so that you will be able to continue the business for the long term without worry.
Continuity of Business
For most businesses, the company’s goal and priority would likely be continuity, success and growth of the business. Hence, it can be important to consider the profile of the landlord especially if you are serious about the growth and the success of your business. If you are in for the long term, it may be advisable to take up a lease from a reliable and reputable landlord. By doing so, business risk can be lowered and there can be more certainty and continuity of the business for the long term.