Are you in need of additional space but don’t want to invest in a permanent structure? Most modular construction providers give you the option to lease a building instead of outright purchasing it. Even better, modular providers oftentimes have existing inventory readily available which is a great way to save time and money.
When you lease a building you avoid the hassle of borrowing funds, and chances are your lease payments will be less than a financed purchase. This also means you don’t have to worry about your building depreciating in value. General wear and tear on your building is often not your responsibility, and neither are large expenses such as structural repairs. Lastly once your lease is up, the building will likely be reused making leasing an environmentally-friendly option as well.
Before you lease a building, you should determine how long you’ll need the extra space and if you plan to purchase the building upon the time of renewal. At SMM we offer two different types of leases:
Operating Leases: Lease a modular building for a minimum lease term and then return the building to SMM, renew the lease, or purchase the building at fair market value.
Capital Leases: Lease a modular building for a specified lease term (typically up to 5 years). You then have the option to purchase the building for a very small amount. Under this lease, SMM transfers title to the building when all of the lease payments and agreed upon purchase option price is paid in full.
For pricing and more information about leasing modular buildings, contact us today!