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You know the exact monthly overhead in advance.
Sometimes obtaining authorisation for an acquisition can be a prolonged process with no guarantee of approval. Hiring bypasses that requirement in the majority of cases, with only local management approval needed for the operating expense.
For a longer usage period, hiring does work out more expensive than outright purchase and this is an unavoidable fact of hiring in general. It is designed to be a short term solution. However, this can be balanced somewhat by also representing a fixed monthly overhead that makes it predictable and, of course, it can be terminated at any time with just 7 days’ notice.
We don’t tie you into a pre-determined or minimum-term contract. You are totally free to extend the use on a month to month basis for as long as you want. All we ask is 7 days’ notice when you want us to take it away.
When you hire a building, we are responsible for maintaining the building, not you. You only have to provide adequate buildings insurance which is usually a mere formality when added to your existing policy.
The building is yours, whether it has been financed through a mortgage or some similar arrangement, or paid for outright. It is a capital expenditure and goes on the books as such.
As with any asset, you can claim depreciation each year as advised by your accountant, which adds to the bottom line P&L numbers.
After its initial purpose has run its course, the building can be quickly taken down and moved to another location if required, or put into storage (which need not be indoors). You can do it yourself or ask us for a quote to do the entire task for you. These costs are now usually OpEx rather than CapEx, which generally require a lower level of authorisation, permitting greater local flexibility and autonomy in larger companies.
We supply the buildings with a guaranteed buy-back option subject to reasonable wear and tear. That means you can exchange the asset for a capital injection at any time that suits you or if your medium term plans change.
Probably the only significant downside of outright purchase is if your plans change early in the planned period of usage. Even with our buy-back option, there would be an unavoidable cost.