What to Look For When Leasing a Commercial Space

Leasing space at a commercial property is a smart choice for many business owners. Toronto commercial real estate is prohibitively expensive for many small business owners. Not to mention that small businesses are constantly evolving, with needs changing faster than a single property can keep up with. For these reasons, leasing is the right option for many business owners.

STEPS TO CONSIDER

Budget

For most business owners, rental costs are one of the largest expenses a business will have. Ensure you are working within a realistic budget. Your budget will determine what type of office building you are able to lease in (A, B or C class building) or what type of shopping centre you can operate your business from. Being realistic with your costs will save substantial time and effort when searching for your ideal location.

Location

The well known statement “location, location, location” can be even more true for a commercial space than it is for a home. Location for many businesses affects profit, employee morale and ability to hire staff. So narrowing down the right one is a simple matter of deciding what you are looking for and where your potential customers and employees are.

Type of Property

Your business will dictate the type of space you require. Leases may not be as big of an investment as buying, but they are still a major commitment. It takes a lot of effort and expense to move your business to a new location. Move your business too many times and your customers won’t be able to keep up. We can help you find a property that you will be happy with for a long time.

Fit of the Property

Leasing a property likely limits the changes you can make to the space. You will certainly have to do some renovations to make it a good fit for your business, but you do not want to have to completely gut a property just to make it feasible for your business. We will work with you to find a property that works for your needs.

Leasing is still a major decision. We will be with you every step of the way. Choose Jeff Wolfe and you will be in good hands from the minute we meet with you, until the day you open your business.