Your business needs a great space to allow you to offer services to your existing clients as well as attract new ones. When you are looking for a commercial space for rent in Calgary, you need to consider a few things before signing on the dotted line.
Commercial property managers in Calgary can help you with all your needs when choosing to lease a location in a multi-tenant building, free-standing location or a newly constructed unit. Here are 5 mistakes to avoid when seeking leased office space.
1. Location
Location is key with any type of business. Depending on the industry you are in, you may or may not want a high-traffic location. Choose a location that is best suited to your type of business. If you are a high-profile retail business, you will want to make sure you take into consideration the amount of traffic for both walk-ins and drive-in clients. For example, a location in a remote part of the city may not be the best choice to attract customers.
2. Lease term
What exactly does the lease term mean? The term of your lease is often dependent on how long the landlord wishes to have you occupy the leasing space. You are best to avoid a short-term lease if you are going to be spending a lot of money to improve the rental space. Investing thousands of dollars renovating a space to suit your business only to find your landlord won’t renew your 1 or 2-year lease could leave you without a place of business and having to start the costly process all over again.
3. Business types
Check with your commercial property managers in Calgary to ensure that your business type does not contradict any non-competition clauses in anyone else’s lease in the adjacent units. Most building managers will not allow the same types of businesses to reside at one location. This is both for the protection of the business owners as well as for allowing diverse businesses to prosper from one another. Happy tenants stay longer for the building owner and pay their rent on time.
4. Size
Size is important. Make sure that your newly leased office space is the correct size. The Building Owners and Managers Association (BOMA) standard for commercial space for rent in Calgary requires the landlord to provide you with the exact square footage of the leased space. This will ensure you are only paying for the space that you are using. Don’t just assume the square footage of the space is precise. The landlord must provide you with the accurate size so that you only pay for the square footage you are using.
5. Demolition clauses
Demolition clauses – what are they and why should you care? A demolition clause in a lease basically allows the landlord to cancel your lease in the event they choose to tear down the building. In many cases, the landlord may offer you a new space in the building that may be constructed on the site of the demolished property. You should note that you will be responsible to move your office and relocate until the new space is available. Beware of demolition clauses and make sure the terms are to your satisfaction.
Leasing office space in Calgary is an easy venture when you are represented by a knowledgeable agent. Check with commercial property managers in Calgary and have them explain all the fine print before you commit to a long-term lease.