Toronto is Canada’s largest business hub, attracting startups, SMEs, and multinational companies across finance, tech, healthcare, and professional services. Renting office space in Toronto offers access to a skilled workforce, global markets, and a strong economy—but costs, locations, and lease terms vary widely.
This 2025 guide explains how to rent office space in Toronto, average costs, best locations, lease types, and expert tips to help you make the right decision.
Can You Rent Office Space in Toronto Easily?
Yes. Toronto offers a wide range of office options, including traditional offices, coworking spaces, serviced offices, and short-term leases. Businesses can rent space through commercial brokers, property websites, or coworking providers.
Types of Office Space Available in Toronto
Traditional Office Space
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Long-term leases (3–10 years)
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Suitable for established companies
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Custom branding and layout options
Serviced Offices
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Fully furnished and ready to use
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Utilities, internet, and reception included
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Ideal for growing businesses and international firms
Coworking Spaces
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Flexible monthly memberships
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Shared amenities and networking opportunities
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Popular with startups and freelancers
Virtual Offices
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Business address without physical space
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Mail handling and phone services
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Suitable for remote or international companies
Best Areas to Rent Office Space in Toronto
Downtown Toronto
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Financial District, King West, Bay Street
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Ideal for finance, law, and corporate firms
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Highest rental costs but premium visibility
Midtown Toronto
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Yonge & Eglinton corridor
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Balanced cost and accessibility
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Popular with professional services
North York
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More affordable office options
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Excellent transit access
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Suitable for tech and mid-sized businesses
Scarborough & Etobicoke
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Lower rental costs
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Good for logistics, back-office operations
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Growing commercial developments
Average Cost of Renting Office Space in Toronto
Estimated Monthly Costs:
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Coworking space: CAD 400 – 900 per desk
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Serviced office: CAD 800 – 1,500 per desk
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Traditional office: CAD 35 – 75 per sq. ft. annually
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Virtual office: CAD 50 – 150 per month
Prices vary by location, building class, and lease length.
Step-by-Step: How to Rent Office Space in Toronto
Step 1: Define Your Business Needs
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Number of employees
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Preferred location
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Budget and lease duration
Step 2: Choose the Right Office Type
Decide between coworking, serviced, or traditional space based on flexibility and growth plans.
Step 3: Search Available Listings
Use commercial real estate platforms or consult licensed brokers specializing in Toronto office rentals.
Step 4: Visit and Compare Offices
Assess:
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Accessibility and transit
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Building amenities
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Parking availability
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Expansion potential
Step 5: Review Lease Terms Carefully
Check:
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Rent escalation clauses
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Maintenance and service charges
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Lease duration and exit terms
Step 6: Negotiate and Sign the Lease
Many landlords are open to rent incentives, free months, or flexible terms.
Documents Required to Rent Office Space
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Business registration documents
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Government-issued ID
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Financial statements or bank references
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Credit history (for long-term leases)
Startups may require a personal guarantee.
Tips to Save Money on Office Rent in Toronto
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Consider coworking or serviced offices
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Look beyond downtown core
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Negotiate lease incentives
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Share space or sublease
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Choose flexible terms during early growth
Frequently Asked Questions
Is renting office space in Toronto expensive?
Downtown Toronto is costly, but affordable options exist in Midtown, North York, and suburban areas.
Can startups rent office space easily?
Yes. Coworking and serviced offices are startup-friendly and require minimal commitment.
Are utilities included in office rent?
Serviced offices and coworking spaces usually include utilities. Traditional leases often do not.
Can foreigners rent office space in Toronto?
Yes. International businesses can rent office space with proper documentation.
Final Snapshot
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City: Toronto, Canada
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Office Types: Coworking, serviced, traditional, virtual
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Costs: CAD 35–75 per sq. ft. (traditional)
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Best Areas: Downtown, Midtown, North York
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Flexibility: High in 2025
Final Thoughts
Renting office space in Toronto offers flexibility, global exposure, and business growth opportunities. By choosing the right location, office type, and lease terms, businesses can control costs while establishing a strong presence in Canada’s leading commercial city.
