To rent or not to rent

 To rent or not to rent?

For newbie entrepreneur who wishes to rent or not to rent 

here are other things he or she needs to know before renting out a space.

Check your house.

If you have a ground floor that can be converted to a commercial space,

You do not need to rent.

If you are renting an apartment,

You can ask the lessor if it is ok to put up a small office space

or commercial space in front of your house 

or you can convert your garage space into commercial space.

This will save you 50% of your money.

Here in Davao City commercial rent ranges from - P10,000-P40,000 a month.

depending on your location.

The usual mode of payment is two months deposit and one month advance.

So if you are paying P10,000 a month, 

you need to shell out times three for your rental.

That is also subject for rental fees increase every year,

depending on your lease of contract.

Other things to consider includes:

-Light and water is usually shouldered by the renter or lessee.

-If you will close your store less than a year, the lessor will not give back your deposit.

-Any permanent improvement that you've done in the commercial space 

 will become the lessor's ownership.

-If you end your contract and decided to close your shop, 

 you can get your deposit for at least one or two months after your electrical bills

 and water bills fully paid.

If I wanted to put up my next venture as an entrepreneur,

I would definitely turn my lower ground floor into a shop.

Thus, can save me from shelling out rental money.

This will also save me from filing and paying withholding tax every month.

As well as other payments to city hall during filing a business permit.

My net income per month will be much higher because less rental fee.

The list can go on and on.

Try to think of other ways to save money.

But if you got a lot of money for a start up,

then there will be no problem if you wanted to look for a space

that suits your business needs.

To rent or not to rent-

It's up to YOU.