How Does Office Leasing Work? FAQ

Some FAQ about Leasing Office Space

Some FAQ about Leasing Office Space

When should I start looking for office space?

You should call now and get the process started. From initial search to move-in can take up to 4‑6 months. Small spaces and those leased on an as-is basis can be occupied much faster but you need to give yourself plenty of extra time to negotiate the best deal

Can you help me create a budget?

Yes, we help clients all the time with their business plans and office budget. Call us to discuss your specific office requirement so we can give you accurate numbers. You shouldn’t count on any on-line published rates fitting your individual needs. Lots of things can increase your final occupancy cost so it is smart to get accurate estimates using your specific information.


Do you help negotiate office renewals?

Yes.  We provide powerful negotiating leverage for tenants who want to renew their current lease. The key to the whole process is to have your landlord know that you are actively searching for alternative spaces with your agent. The chance of loosing you as a tenant is the only real motivation the landlord has to negotiate. Often this is best accomplished by having your agent contact the landlord for a renewal proposal and start the discussion about other properties you are considering. (We recommend you actually go look at new space too.)

Do you help purchase buildings?

Yes.  Many clients express interest in purchasing but only a select number of businesses are good candidates for taking on this “project”. Buying a building for your business can be a great investment or can financially sink you. The companies who should consider purchasing have:

i. Ample cash reserves not needed for business operations or development.

ii. Stable, positive cash flow for the foreseeable future.

iii. Predictable growth for Six months to a year lead time before occupancy.

I need more space-what are my options?

i. Look into expansion and relocation opportunities in your building or within the owner’s real estate portfolio.

ii. Split your operations and get a second office with a lease that expires the same time as your current lease.

iii. Start marketing your space for sublease as you start the search for a new location.

I need to get out of my office lease-what are my options?

i. Request a buy-out proposal. This will include a lump sum payment that will terminate your lease – a very costly option.

ii. Sublease the unused portion of your space to another company.

iii. Sublease your entire space and move to a smaller office.

Does OfficeSearchToronto.com charge a fee?

No.  OfficeSearchToronto.com offers its services free of charge to tenants looking for office space. Office leasing is similar to a residential real estate transaction. The owner pays his broker a commission for each lease signed. If OfficeSearchToronto.com represents you, the owner’s broker pays us a portion of that commission for helping lease the space. Using a Tenant Representative doesn’t raise the rent because the owner pays the same commission regardless of who helps get the space leased. This means you can have a professional on your side at no cost to you.

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2 Responses to “How Does Office Leasing Work? FAQ”

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