Here are 3 steps to follow when searching for office space in Toronto:

PLAN AHEAD

The earlier, the better. It is very important to begin planning well in advance. While it’s possible to find an office space last minute, you will most likely be at a disadvantage taking the last minute approach. Depending on the size, it is common for Tenants to start the process 6 to 12 months from their desired commencement date. This will give you the best opportunity to fully analyse current market conditions and make an informed decision. Maybe you find the perfect space in the prefect location, but the landlord is in the process of making building upgrades and your new premises won’t be ready for 6 months. It’s also possible that once you’ve gone out and seen the alternatives, you may be happy to stay and renew your lease in your current premises. Should this occur, you will need to provide your landlord with a notice to renew which is typically 6 to 9 months in advance. If you wait until the last minute, your landlord may lease your premises to a another tenant. Giving yourself the most amount of time will put you in the best position as a Tenant.

HIRE A COMMERCIAL REAL ESTATE BROKER

Commercial Real Estate Brokers know the market best. They are seasoned professionals with extensive market knowledge and will expose you to all the leasing opportunities within your desired market. It is important to engage the services of a professional who is familiar with the market in which you are seeking office space. While Tenants can do it on their own, hiring an industry expert will ensure nothing is overlooked and you will get the best possible deal, after all you have your own business to run.

ASSESS YOUR NEEDS

It is important to understand your companies needs today and down the road. There are several factors to consider when examining your office leasing requirement. Some of the more common ones will include Location, Size and Budget. These are the main points to consider when assessing your needs however there is much more to consider. Your Commercial Real Estate Broker can help assess your needs and ensure your interests are being protected.

If your business is planning an office relocation or office renewal, FR Capital Realty Advisory Services can help. Contact Us today.

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.

When it comes to the idea of subleasing, many businesses don’t even stop to consider it an option. This can be a huge mistake, not to mention a very costly decision. Having a hefty lease or large amounts of unused space can cause a major drain on finances, not something any business wants.

While it may seem like your business might be stuck in a commercial lease, more often than not, these can be negotiated. That’s where FR Capital Realty can help work with you to sublease your Toronto office space with the best possible terms.

You want to approach any plan to sublease office space in Toronto with a strategy in place. Here are three major tips that will help understand the process.

Know Your Lease

The very first thing to do is check the current office lease your business is operating under. Some office leases might prohibit subleasing, or they might have specific covenants that detail what kinds of subleases are allowed. Many leases will allow some flexibility when it comes to subleasing office space, though a conversation with the commercial landlord will certainly go a long way in moving the process forward.

Ask Your Neighbors

In major cities like Toronto, office space for rent is always at a premium. So don’t forget to check in with the businesses that surround your space, there could be one or two who are looking to expand their footprint in the area and would be very happy subleasing your Toronto office space. Plus, as these businesses are likely already under contract with the same landlord, it could make for a very easy approval.

Do Your Due Diligence

When looking for tenants to sublease your Toronto office space, be sure to perform the necessary due diligence. Incoming tenants must not only be financially capable of taking over the lease, they should be financially stable as well, so take the time to follow up with bank and credit references. Additionally, know the rules and regulations of the building and communicate those with any potential tenants to ensure they will be able to comply.

A great tenant representative and agent who knows the particular ins and outs of subleasing office space in Toronto will be a vital ally when it comes time for your business to tackle this next step. Understanding what to look out for, and especially what to prepare for during this process can make it much easier to plan for the future.

If your business needs to sublease Toronto office space, FR Capital Realty provides first class guidance and solutions to facilitate the process. Contact us today to learn more.