Five strategies to use when looking for office space to lease in Toronto

posted by in Office Leasing

An office move is generally one of those instances where people want to hide until it’s over. There are plenty of horror stories of relocation's gone wrong, which have, unfortunately, painted a negative picture of the entire process.

The truth is, it doesn't have to be that way and FR Capital Realty can help your business avoid many of the issues when searching for office space in Toronto.

The problem that plagues most businesses when searching for office space in Toronto is that they approach it completely the wrong way. They have no plan and don’t really think most decisions through.

Not a great way to approach the task is it?

That’s why searching for office space to lease needs to be approached with a solid strategy in mind, it’s the only way to really get the ideal office space in Toronto. Here are some strategies to take into consideration when searching for office space.

Plan Early

Before considering a relocation and starting to search for office space to lease, the best bet is to have a least a year of lead time to prepare. This can vary depending on company size, but it’s always better to have more time, no fewer than a six month window if it can be helped. No matter which stage of the process your company is at, FR Capital Realty can help you set a timeline and plan your Toronto office relocation.

Know Must Haves vs. Wants

Determine what your non-negotiable requirements are first. These could be anything from location to the size of the space. These factors are going to be the most important when it’s time to make a decision on your office space in Toronto. FR Capital Realty can help establish an itemized criteria list.

Have a Budget

This should seem relatively obvious, but many businesses still take a lax approach to determining exactly how much they want to spend on a location. Office space in Toronto has a wide range of costs, finding the right office space in the right budget can be a challenge. Make certain that you know the numbers inside and out; rent, additional costs such as utilities, construction, parking, insurance, taxes, and other occupancy costs. FR Capital Realty can help you plan a budget and make certain that no costs get overlooked.

Determine Special Amenities

This is where employees (and customers) come into play. Does the area have enough parking for customers? Is there adequate transportation? Are there lunch options for employees nearby? What important features of the building fit the style and image of your business? These are important questions to be answered when starting to search for office space in Toronto.

Find a Tenant Representative

When searching for office space in Toronto, getting a tenant office leasing representative involved early in the process can be a big help in getting the right office space. These experts will be able to take the list of must haves, location desires, and budget ranges and find the best possible solution. They understand the in’s and out’s of lease agreements, and the negotiation tactics that will get the deal closed.

By having a strong strategy in place, and getting the right tenant office leasing representative involved from the start, businesses can stop worrying about the potential horror stories of searching for office space in Toronto. The right team will be able to utilize industry connections, experience and expertise to deliver a space that will check all the right boxes.

If your business is beginning a new search for office space in Toronto, FR Capital Realty provides first class guidance and solutions to deliver the space you need. Contact us today to learn more.

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