While some businesses choose to buy their office space outright, most companies find it more affordable to enter into an office space lease instead. Choosing office space rentals provides more flexibility and the opportunity to easily move into new accommodations should your business grow or change. When planning out your needs for Toronto office space, consider the benefits that leasing can provide. And before you lease, make sure to take the elements below into consideration.
One way to save even more money on an office space lease is to form an agreement with a company that offers co-working arrangements. This means that different employees from different companies share the same general space. You might have a space all to yourself but share some resources, or you could allow other companies to use your office space during off hours. Co-working allows you to minimize costs related to equipment, cleaning, and other utilities, since all the different people who share the office space split those costs. When you examine your office space lease, ask about co-working if you want to save more money and don’t expect to use your space 100% of the time.
Even the most affordable Toronto office space can leave you at a disadvantage if you don’t have space for important meetings and training sessions. Fortunately, many buildings that offer office space rentals also have meeting rooms and boardrooms that you can book for your needs. Using a rented meeting space provides you with a sizable discount because you don’t need to pay for an empty room when you aren’t using it. When you examine options for office space rentals, look at the meeting rooms available. Are they big enough to fit your needs? Do they provide ample seating and audiovisual access? How is the Internet in the rooms? These questions can help you make your final decision.
Finally, you should consider the environment around a building before you enter into any office space lease. How far do your employees have to travel in order to get to work? What local amenities are in the area? If you need hardware for a project, where would you go? What about eating options for your employees when they are on their lunch breaks? No business is an island unto itself, and the environment around a workspace makes a big difference. If your employees have to go far out of their way when buying supplies or eating lunch, it takes away from their productivity in the office. Make sure that your entire business is aligned with efficiency in mind, both in your rented office space and in the surrounding neigbourhood.
In almost every case, you will save money by leasing an office space, and the Toronto area has a lot of choices from which to select. Use the information provided above as a guide to understanding the key questions and concepts that can help to shape your business. By planning your space correctly, you can see a big return on your bottom line.