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Should I Run My Business Out of My Home or Rent a Business Space?

Posted on in Business Law

Fairfield County Business Owner Attorney

If you are thinking about starting a business, one question you will run into is where to physically carry out your business. Many entrepreneurs assume that they will use space inside their home as their primary workspace. There are several advantages and disadvantages associated with using your home as your place of business. Depending on the type of business you intend to start, you may not even have the option of running the business out of your home.

Is it Legal to Have a Home Business?

The first question you must ask before you can decide where to house your business is whether home-based businesses are even allowed at your residence. You will need to research city and county zoning laws to determine if you can lawfully run a business from your home. If you rent your home, you will need to read your lease and determine if it disallows home businesses. Homeowners associations may also enforce rules regarding home businesses.  

What are the Pros and Cons of Basing Your Business at Home?

If you are permitted to run your business from your home, the next question is whether a home business is the right fit for you. Home businesses may allow for greater flexibility and considerable financial savings. Running your business from your home also eliminates your daily commute. 

However, there are also downsides to home-based businesses. You may find it difficult to maintain a healthy work-life balance if your business is not in a separate location. Potential investors, vendors, clients, or customers may find the idea of coming to your home off-putting – especially if there is not a designated area of the home that is set up like a typical business space. Your family members or roommates may have a strong opinion about individuals coming in and out of the home regularly.

Renting a Business Space May Be Your Best Option

If you cannot run your business from your home or you intend to grow your business over time, your best option may be to rent a space for your business. This eliminates many of the disadvantages associated with home businesses and gives your business a firm foundation. To rent a business space, you will need to sign a residential lease agreement and address issues such as property tax, insurance, signage, building modifications, and lease termination provisions. A commercial real estate attorney can help you understand your rights and responsibilities under the commercial lease agreement and prevent lapses that could lead to future disputes.

Contact a Fairfield County Commercial Lease Lawyer

For legal guidance regarding commercial lease agreements, zoning issues, and other business law needs, turn to the reliable Stamford business attorneys at the Law Offices of Peter V. Lathouris, LLC. Call 203-359-2047 for a free consultation.

 

Sources: https://www.entrepreneur.com/article/68844

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