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.
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.
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.
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.
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.
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.
Our team at CMS Real Estate would like to wish you a festive holiday season and a happy new year! We appreciate your support and loyalty this past year and look forward to continuing to serve you in the new year! As a Calgary-operated business, our great joy is serving Calgarian business owners and tenants […]
Part of owning a brick-and-mortar small business means finding a commercial property to house your company. When the opportunity to purchase a commercial property in an up-and-coming development arises, your business will be part of the excitement with other great amenities, and you’ll help attract new business to the area. The East Point Business Park […]
As CMS Real Estate marks its 40th anniversary, we fondly reflect on a journey that has firmly established us as a mainstay in Calgary’s real estate sector. Our secret to longevity and success? A client-first philosophy. When you emphasize the importance of prioritizing client needs, it fosters an atmosphere for our clients that builds incredible […]
If you’re looking for a great industrial property for sale in Airdrie, we currently have an exciting opportunity available in the Kingsview area. Located at #104, 2926 Kingsview Blvd SE, this property boasts impressive features and amenities ideal for a: Distribution warehouse Storage warehouse Manufacturing facility Property Overview This expansive industrial property in Airdrie features […]
Calgary’s industrial landscape has long been known for its vast warehouses and distribution centres, housing goods and materials for a variety of industries. However, in recent years, compact industrial spaces are revolutionizing the way businesses operate in Calgary, providing them with adaptable solutions to meet their specific needs. The future of small industrial warehouses for […]
Operating a small business often involves renting office space, a warehouse, or other property types. There are two common kinds of commercial leases: a triple net lease and a gross lease. These two types of leases have distinct approaches to allocating costs between tenants and landlords. Whether you’re looking for a retail space or a […]
© Copyright 2024 CMS Real Estate Ltd.