Searching for the perfect office or cosy new home can be an adventure. Some people drive around spontaneously, while others plan and research carefully. Some choose to hire an agent for expert help.
You might think, “I’ll know it when I see it,” but a bit of planning can make your search smoother and quicker. This can save you from a long, frustrating hunt.
Regardless of your approach, focusing on key factors can streamline your search. Here are five crucial things to consider when renting space.
Amenities
These features make a building more than just four walls. What comforts are essential for you? Maybe it’s a lift for easy access, wide staircases, or ramps for convenience. Perhaps you prefer large windows for natural light, a garden to relax in, top-notch security, or a gym to stay fit?
Don’t forget the practical details: How many parking spaces do you need, and are they wide enough to prevent door dings? Is there a coffee shop nearby for your daily caffeine fix or a standby generator for unexpected power outages? Accessibility for people with disabilities might also be on your list.
Knowing what you want—and prioritizing those must-have features—will help you narrow down your options and avoid deal breakers
Location
This is guided by personal preferences. What’s the ideal spot for you? Which amenities do you want nearby? How far should it be from the central business district, your office, or your home? How close to a mall or shopping center? Are there specific areas that would better suit your business? This is a crucial factor to decide early on, as it helps you focus your search in the right areas.
Price point
The most common question is, what’s your budget? What’s the maximum you’re willing to pay for the space? This depends on your current location, what you’re paying now, and the resources available for rent. It’s important to have a price range in mind. Often, the key is to determine the maximum amount you’re comfortable spending.
Space
It’s important to understand what the space will be used for, how many people will occupy it, and whether there’s room for future expansion. As organizations and families grow, having extra space can prevent the need for an immediate search for more room. This also helps determine the number of washrooms needed and the size of other amenities like the kitchen and storage areas.
Agent or not
While some people find great deals on their own, using an agent has its advantages. Agents know the market well and can quickly identify the best deals while negotiating favourable terms for their clients. They also save you time by shortlisting properties that match your needs, and they have connections with property managers who can offer deeper insights into each location.
We’ve found that working with agents helps us as property developers and managers. They provide valuable market insights that allow us to create spaces that meet current demands. It’s rewarding to see our clients satisfied with the amenities, location, and price because we’ve listened to the market and delivered what’s needed.