9 Mistakes to Avoid Before Leasing Your Next Office Space

By: Lisa Hewston, Senior Manager, Placemaking and Bayview Experience
Invest Ottawa & Bayview Yards
5-minute read | 1146 words

Are you on the hunt for the perfect office space to fuel your business’s growth and success?  Finding the right workspace in today’s dynamic business landscape goes beyond just four walls and a desk—it’s about creating an environment that advances productivity, collaboration, and innovation.

Whether you’re a startup ready to make your mark or an established business seeking to elevate your operations, searching for the ideal office space is crucial to realizing your goals.

With so many available options, the search can feel overwhelming – but don’t be discouraged! This blog is your ultimate guide to finding the perfect home for your business, helping you sidestep some of the most common mistakes businesses make when signing a corporate lease.

So, let’s dive in and uncover the secrets to unlocking your business’s full potential in the perfect office space.

Unlock the doors to Ottawa’s Innovation Hub with our captivating virtual tour!
Alternatively, for those in the local area, immerse yourself in the experience firsthand by scheduling an in-person tour.
Book a tour here

Top 9 Mistakes You Want to Avoid Making Before Leasing Your Next Office Space

1. Don’t Miss the Opportunity to Negotiate a Longer-Term Lease at a Discounted Rate

Although short-term leases can provide your team with flexibility, they come at a premium. Securing a long-term lease at a discounted rate is a strategic move that not only provides your team with stability but also lowers fixed costs.  If you have a good idea of how your team will scale for the next 3-5 years and the ideal location, we recommend extending your lease and negotiating a lower rate.

2. Don’t Forget to Get to Know Your Neighbours

Aligning your organization with industry leaders, innovators, and entrepreneurs will make all the difference in the success of your business. When leasing a commercial office space, it is important to know the community you’ll be joining.

Don’t underestimate the value of synergy and collaboration that takes place when businesses are under the same roof.

Position your business among an elevated peer group and watch your corporate reputation soar!

3. Remember to Look Beyond the Hard Costs When Determining Value

There are many factors to consider when evaluating the value of a corporate lease – some of which aren’t listed in the fine print.

The premium amenities included when renting corporate office space can significantly impact your bottom line and the experience of your employees.  As an example, Bayview Yards offers a 40% discount on event space to all community members (lease holders).

We offer complimentary coffee, parking, audio-visual services, and much more! Learn more.

4. Don’t Underestimate the Importance of Location

The old adage, “location is everything,” is particularly relevant when leasing office space. You may find a competitive offer at a location outside of town, but how will that impact your day-to-day business?

Selecting a location with multiple commuting options is paramount to accommodating the diverse needs of your team and optimizing accessibility.

By choosing a spot with various transportation modes such as public transit, biking lanes, and proximity to major roads, you empower employees with flexibility in their daily commute. Your clients and employees will appreciate the opportunity to bike, easily commute by car or Light Rail Train (LRT), and in some cases, cross-country ski! You want to be in on the action, feeding off the vibe of a thriving, exciting atmosphere.

5. Don’t Undervalue Office Furnishings, Décor & Design

Did you know that the average estimate to furnish a small to medium-sized office is between $15,000 to $50,000? When you factor in furniture, equipment, décor, and installation expenses, leasing a fully furnished space can significantly impact your budget.

We recommend utilizing adaptable furniture that can be reconfigured easily from a board room setup to individual workstations.

Ottawa’s Innovation Hub includes complimentary, premium office equipment as an added value within our corporate leases.  Additionally, our spaces are adorned with original artwork by local artists acquired through the City of Ottawa. Learn more.

6. Take the Time to Ask the Experts

Before committing to leasing an office space, gathering the testimonials and honest opinions of existing leaseholders is critical.

Often, their perspectives on the office culture, the facility, the relationship with their landlord/property management, etc., will prove invaluable. Many factors make or break a leasing experience, many of which you can’t foresee during an initial walk-through.

Gaining an informed approach before signing a lease will strategically position you to address any concerns proactively and will ultimately help you to make the best possible choice for your business.

7. Focus on Your Core Business

Leasing a shared office space offers a strategic solution for businesses looking to streamline operations and maximize focus on their core activities.

By outsourcing tasks such as receptionist duties, administration, security, and cleaning to the shared office community, businesses can alleviate the stress and financial burden associated with managing these responsibilities.

By embracing a shared office space model, you can concentrate on what truly matters—driving the growth and innovation of your business.

8. Don’t Forget to Prioritize Private Spaces

When selecting your next office space, don’t forget to prioritize meeting rooms and phone booths. Open-concept layouts may be aesthetically pleasing; however, your team may require private areas to make phone calls or meet with stakeholders.

Access to dedicated meeting rooms and phone booths ensures your team can conduct confidential conversations without interruptions or distractions.

9. Factor in the Buzz of Events

Choosing an office space with an event venue offers numerous advantages beyond the typical workspace. With an onsite event venue, businesses gain the ability to host corporate events effortlessly, streamlining logistics and enhancing convenience for both organizers and attendees. Additionally, being able to attend public events within the same ecosystem creates networking and learning opportunities, enriching the overall experience of being in the workspace.

There is a buzz within the building, contributing to a lively and dynamic atmosphere that attracts talent and encourages collaboration. The vibrant energy of such a space not only reflects positively on the company culture but also cultivates a sense of excitement and belonging among tenants and visitors.

Ready to experience the perfect blend of innovation and convenience at Bayview Yards?

Don’t miss out on the opportunity to explore your future workspace firsthand!  Schedule your tour now and take the first step towards unlocking your business’s full potential!

Book a private tour of Bayview Yards and discover the available office space.