So, you’re looking for a Newark NJ industrial property for rent? That’s quite the grand undertaking, but we can tell you here and now it’s well worth it.
Ultimately, there are pros and cons to both sides of the argument, either renting or owning. However, we have found, as far as renting goes, the advantages far outweigh the disadvantages. It might be exactly what your business needs to catapult it toward new successes or give it the start you’ve worked so hard for.
Although the benefits of finding the perfect Newark NJ industrial property for rent are vast and varied, we’ve narrowed them down to five that are worth considering the most. They are:
- Lower upfront costs
- Maintenance and repairs
- Overall flexibility
- Tax benefits
Something else to consider is finding a commercial real estate agency that can guarantee you all these things. They don’t come around often, but if you can find one, it makes a world of difference. More on that later. For now, the fun stuff.
The lower upfront costs of an industrial rental property
Even with the war in Europe and the constant murmurs of a pending recession, it’s no secret the entirety of the New Jersey real estate space is going strong. The North Jersey Transportation Authority states, “Growth in recent years has been driven by Amazon and other companies focused on last-mile and quick delivery services, causing pricing in industrial properties to increase 20 to 25 percent year-over-year” (Njtpa Update Blog). But what does this mean for you?
Does it mean you won’t be able to afford the right industrial space? Certainly not. However, it does mean that purchasing a space outright may not be the best financial move, at least not right now, especially if you’re just starting. Instead, finding an industrial property to rent might be the better route.
Compared to owning a space, the lower upfront costs of renting one can free up more capital for other ventures within your business. Plus, who wants another mortgage?
Maintaining a Newark NJ industrial property
Well, the simple answer is you don’t! Pretty nice, right? Well, okay. Maybe you need to maintain it a little. It’s the home of your business after all, and there’s no way to avoid those regular tasks of cleaning and upkeep. However, your time is valuable, and renting a property versus owning one can not only save you time but money as well.
Landlords are responsible for a lot more than collecting a monthly premium from you. At the end of the day, it’s their property too. They’re responsible for the maintenance and repairs necessary to keep it in healthy working condition and meet their end of the lease agreement. Thankfully, this goes well beyond just replacing the occasional furnace filter. Landlords typically do a whole lot more, some stuff most wouldn’t even know where to start with:
- Structural repairs
- Plumbing and electrical repairs
- Heating and cooling systems
- Appliance repairs
- Pest control
- Safety features
- Exterior maintenance
Owning a property for your business might sound nice—In some cases, it’s the best thing—but owning a property means you have to own all the other time-consuming and financial burdens that come with it.
The flexibility of renting an industrial property
At Blau & Berg, we believe that finding the right Newark NJ industrial property for rent can truly be a game changer. As we’ve said before whether you’re aiming for new successes or trying to get a great start, a rental property might be exactly what your business needs. Not an owned one, because who knows where you’ll go next? Who can tell how much your business will grow? You don’t want to stifle that potential by being locked down.
Renting an industrial property will give your business the flexibility it needs. You’ll be able to easily scale up or down your operations simply by changing the terms of the lease agreement or moving to a brand-new location. On the other hand, the time may come when you’re forced to lose business or miss out on an opportunity if you own the property.
In the latter, you wouldn’t be able to make the on-the-fly decisions required to be successful in your field.
The tax benefits of renting a Newark NJ industrial property
There’s no use trying to avoid it. It comes around every year… Tax season. Time is money, but do you know what else is money? Money! Money is money, and by now you understand the value of saving as much of it as you can wherever you can. The more capital going in and the less of it going out the better. Luckily, renting an industrial property in Newark NJ can save you a lot more than you might think. Yes, owning a property can result in tax benefits as well, but these are largely dependent on factors like the property’s value and your business’s financial situation. The benefits of renting are nearly guaranteed.
Your rent payments are tax-deductible as a business expense. This will consistently reduce your business’s taxable income and leave more money where it belongs. In your business, where it can continue working, growing, and returning on your investments. In addition, let’s say your business grows larger than the space you currently have. You can terminate your lease and move to a new location without the tax implications of having to sell and buy new industrial property.
And finally, the location of your Newark NJ rental property
We’ve already discussed the flexibility of renting a property instead of owning it. We highlighted how you can move and grow as you see fit and as your business requires. This especially comes into play when you’ve found the perfect location for your business, but it’s simply too expensive to own—At least for now. Not only does renting a property give you the freedom to make on-the-fly decisions, but it opens a whole new world of possibilities when it comes to settling in the perfect location.
Especially in Newark NJ, renting an industrial property can provide your business with the access it needs to prime locations that may have been too expensive before or outright weren’t available for purchase. This can be especially beneficial for your business if it needs to be located close to suppliers, customers, or transportation hubs.
Now, all of this sounds fine and good, but how do you do it? How do you go about brokering these lease agreements and managing the legalities and minutia on the backend? Easy. You don’t. You find someone to do it for you. But be careful, finding a Newark NJ industrial property for rent is no easy matter and neither is finding the right agency.
You need someone you can count on. Someone who cares about your business as much as you do.
How to find an industrial real estate agency that cares
It might seem like an impossible task to find the right agency but trust us when we say it will make a substantial difference. It’s always been our goal to be recognized as a trusted company that provides exceptional, uncompromising value to you and your business. As such, you need to find an agency that cares more about building long-lasting relationships over ‘clients.’
Here are some of the values you should look out for. When you find them, don’t let go. That agency is the one:
- Trust and integrity
- Past client success
- Expert market services
If you’re already in the market for a Newark NJ property to rent or just need an honest opinion, don’t be afraid to give us a call. We’ll give you the time.