As more of the GTA begins to receive vaccines, the amount of people going back to work is slowly climbing. What’s different as we head back into office in 2021 is the amount of office space needed. We have seen first hand how quickly things can change in business, why not adapt to changing times by leasing office space as opposed to purchasing?
Why you should lease office space in the GTA
Leasing an office space might be a new idea for your business, but there are so many perks that naturally come with leasing as opposed to buying space.
Prime property space
In the GTA, especially cities like Toronto, Mississauga, and Vaughan, purchasing office space in an ideal location can not only be expensive, but quite challenging to find. Your access to the location perks is still within reach! If you are looking for office space in a prime downtown location, your best option is to lease. There are plenty of office spaces for lease in these areas varying in price and size.
While your office is not likely to move every year, with leasing, you have the opportunity to change locations when you want. Additionally, you can sign lease agreements of different lengths, usually ranging between 5 and 10 years. Plus, if you no longer need the office space, you do not have the hassle of selling the property once your lease expires. Office spaces can come in many sizes designed to accommodate your small, large, or growing business.
Upfront costs of leasing office space are minimal. Rather than tying up hundreds of thousands all the way up to millions of dollars in real estate, pay monthly lease and keep more of your investment capital in your pocket.
Less to worry about
When you own office space, any complications that arise fall upon you. When leasing a space, you can direct more of your attention to business matters. Any issues with the building can be filed through your landlord or leasing company.
Comparative costs in Toronto, Mississauga, and Vaughan
Office space lease prices depend on a number of variables, including the amount of space, location, and the number of people in the office.
In the GTA, you can expect to pay an average of $15.90 per square foot per month for office space. This is lower than it was earlier in the year, which means it’s a great time to jump on a great deal!
Not sure how much space you will need? Check out the handy recommendations outlined on this page.
No matter the size of your business, allow an experienced real estate professional to find you an office space that works for you! A broker will help you navigate costs and respective locations based on your personal needs. Commercial Real estate broker Allen Mayer has been providing services specialized in commercial real estate for over 25 years and can help you find an office space that exceeds any of your dreams. Call or book an appointment today!