Everything You Need To Know About Owning An Office Building

Low angle view of a crane reflected on the window

Editor’s Note: Here at Dispatches, we are always looking for ways to help our readers do things. For some of our readers, that means helping navigate the working world, for others, it means assisting in the ever challenging question, “what’s for dinner?” For still others, it means figuring out how to balance family life with everything else. In an effort to aid in all of these endeavors, we have collaborated on this article written specifically for our readers.

For many companies, the debate is often whether they should work in an office or from home. Today, I want to address all those businesses that decide to work in an office. There are plenty of reasons this can be the better solution for your organization. You get more space and everyone is in the same place.

Some businesses consider purchasing an office building as an investment for their business rather than renting the space. You don’t need to purchase a huge skyscraper (and there likely aren’t very many available in your area anyway). Some small companies invest in properties and convert them into an office building.

By owning a building, you have the potential for even more space and additional income from other tenants.  This extra income can prove very valuable when you’re adding up all your finances. It gives you a better chance at making a profit each year.

You need to make a plan for maintenance and that the entire building is well looked after and abides by health and safety regulations. Otherwise, you could be open to premise liability disputes if someone gets injured.

There are specific areas of an office building that require attention too. Multi-floor buildings may have elevators, and they need regular servicing. So, you have to look for the best lift maintenance services for offices to get the job done. 

There are often commercial buildings for sale in your area. If your city ordinances and zoning allow, you could consider buying a property and converting it into an office space. You could also consider buying commercially zoned land and building the office spaces, but this may be more expensive than purchasing an already built structure. 

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