To Own or Rent an Association Headquarters?

Finance By: Christian Spencer

The advantages of personal homeownership are familiar to most of us, but the decision to rent or own is not so clear cut for commercial real estate. It may be attractive, but is owning your association's office space all it's cracked up to be? Three associations share the factors that weighed on their decisions.

One weekend many years ago, my father, a realtor at the time, was in town for a visit and over lunch asked me directly, "So, when are you going start thinking about buying a home so you can stop paying rent each month?" The question caught me a bit off guard, but at the time I had been working as an accountant for several years and had concluded that I planned to stay in the area, so purchasing a home made sense for many reasons. ...