Undertaking an office space in lease in Calgary can be a big decision. We have put together a list of office rental terms that you should know before you take the next step. Getting familiar with these terms will make the whole process for renting an office space just a little bit easier.

Office Rental Terms

• Lease Term

  • This refers to the duration of your office rental. This could be anywhere from month to month, 1 year, 2 year, even 5 year. Knowing exactly how long you want to lease an office for is key. Be sure to check the contact for any penalties should you break the lease early.

• Gross Lease v Net Lease

  • These two can be quite confusing for the first time office renter. Gross lease refers to the rate you pay covering all expenses, such as the rent and any building maintenance costs. A net lease means that your base cost is lower, but you are responsible for any building expenses. These can include, taxes, insurance and maintenance.

• Rentable v Usable Square Feet

  • These two terms might also need a break-down if you are new. Rentable square feet refers to your space plus all the shared areas: lobbies, bathrooms, kitchens etc. Usable square feet is the space that your actual business occupies and uses on the day-to-day basis for business related activities.

• CAM Fees

  • CAM fees or Common Area Maintenance Fees are costs associated with the shared spaces of an office building. These are split amongst all the tenants of a building. Asking for a break-down prior to signing a lease is a good idea to better understand your costs.

We hope that these terms have helped you to better understand the terms of the lease contract that you may sign. You can always ask our agents for more clarification on anything! Contact us today to get started a new office space lease.