Going to the office is a routine part of the day for most advi-sors. What is out of the ordinary is finding — and leasing — that space. After staffing, rent is often an advisor’s biggest expense. There are, however, ways to reduce costs and enhance value. Here are five recommendations for renting office space:

> Know The Market. Knowing the area in which you are considering setting up shop is critical, says Kenneth Jones, president of J.J. Barnicke Winnipeg Ltd. , a commercial real estate brokerage firm. It is important to have an understanding of current rental rates, what’s a bargain (and why) and which neighbourhoods, buildings and amenities are overpriced. It is equally important to have a sense of the community, and what it has to offer your business and your customers. For example, is there ample parking in the area?

> Know The Language. Like any business, the leasing world has its own lingo. Without knowledge of that language, you can’t really know what you are agreeing to or paying for. Buildings, for instance, are divided into classes. It’s important to know the difference between a Class A building (at the upper end of the scale) and a Class C building — and what you’re paying for in each case.

Just as important is knowing the difference between rentable space and usable space. The former includes common areas, such as washrooms, and the percentage difference between the rentable and usable area is known as the “loss factor.” The smaller the loss factor, the sweeter your deal may be.

> Know What You Need. When it comes to leasing an office, as with any major outlay of cash, it’s easy to get caught up in the moment — and the inconsequential details. Jones cautions advisors to take a good, hard look at their actual office requirements, not their office wish list. “You need to have a full understanding of the space you need,” he says.

Layout is a central issue. Does the design reflect the way you work? Is there lots of open space? Are there lots of hallways? Is the use of space efficient or are there nooks and crannies that, while attractive, simply can’t be used?

If you are not sure how much space you need, Anthony Dyson, a lease negotiator in Toronto, has developed a Web site (www.the-real-estate-lease-advisor.com) to help making leasing less complicated. It includes the Toronto commercial real estate space calculator, which lets you figure out how much square footage you will need for your business. “Every business differs, as does every building, but it will be a good guide if you are just starting out to look for office space,” he says.

Finally, can the floor plan be changed? If so, at whose expense?

> Know The Lease. The lease is often the heart, and heartache, of renting an office. “It’s a daunting task,” says Jones. “The agreement can run more than 45 pages.”

And don’t expect that agreement to run in your favour, Dyson says. The lease almost always favours the landlord.

But leases are also open to negotiation. That involves cost, of course, but there are essential questions to consider. Is there an option to renew? To purchase?

Jones also recommends that you ask for an “early termination” clause, which can let you out of your lease early under specific conditions. “This clause is important for start-ups and smaller companies,” he says.

Business may fizzle and a company may no longer need its leased accommodation, or business may boom and the firm may find itself crammed into quarters it has outgrown. The latter situation is often easier to negotiate. “If you’re growing, landlords will often relocate you,” Jones says, “but if you’re downsizing, you’re on the hook for the lease.”

“Most landlords,” he stresses, “will not rip up a lease.”

That means you’ll need a sublet clause in your agreement.

You also need to read the fine print. What you find there may surprise you. Many leases are simply templates landlords use time and again. Many have not been revised in awhile. For example, it’s fairly common to find in an office lease that cooking is not allowed. This could be problematic if you, or your staff, want to heat up leftovers for lunch in the microwave.

@page_break@> Know Your Limitations. Leasing 101 is not a bird course. If you fail, it’s your pocketbook and your business that loses. You’re well advised to get expert advice. “Many tenants don’t realize commercial lessors actually do tenant representation,” notes Jones.

“Most of the time,” he adds, “we still get paid by the landlord.”

Even if money must exchange hands, it is usually money well spent. Not only will you get the space you need in an area that meets your needs — and those of your clients — but expert help will often mean a better deal. IE