When you own a business, it’s important to have the right workspace set up. But finding the ideal space to establish your company and its operations can feel daunting, especially if you’re not sure what to look for in your search. We’ve put together a brief guide outlining how to choose a commercial space to rent, including the qualities to look for and where to find the perfect place in Montreal.
Establish Your Needs
Before you start touring properties and taking a closer look at what’s available, it’s important to determine what your business needs from its workspace. The key factors to consider include the number of employees that will utilize the space and your monthly budget. Other factors that can help you make a decision include the proximity of the space to public transportation (if that’s important for your staff members), the option to expand or renovate the space, and whether parking is available nearby. Make a list that includes must-haves and nice-to-haves that you can use when looking at spaces.
Create a Budget
When creating a budget for your commercial space, you can compare the average rental cost per square foot in Montreal. Some areas will have higher rental costs, particularly those that are more desirable due to their proximity to appealing neighborhoods, public transit, or revitalized commercial spaces. When you determine the approximate cost per square foot in the areas you’re considering, multiply it by about 150 per employee and add about 30% on top of that. This will help you create a budget for the amount of space you need.
Consider Flexible Solutions
If you find that the cost of renting a space is more than you want to spend, consider flexible options, such as a shared workspace. This is a good option if you don’t spend all your working hours in your workspace, freeing up some of the time for someone else to use it and share the cost. Another consideration is renting a smaller space and having some of your employees take turns working in the office, working remotely on the days they’re not physically there. A hybrid work schedule can also be an appealing option that can boost recruiting efforts.
Start Your Search Online
You can utilize online resources to look at a lot of different properties, narrowing down your list to the options that check off all the must-have boxes. As you compare the commercial spaces for rent, you can also view key details, such as the size and physical location of each option. Once you narrow down the list to include the commercial properties that appeal most to you, use the contact information to schedule a tour and see how each feels in person before making your final decision.
As you compare commercial spaces and decide what’s most important to you, you can make the right choice for your business needs. Montreal is a growing and thriving area that encourages business growth and development, offering a range of commercial spaces for rent.
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