Occupancy Costs

Occupancy costs dipped slightly in Greater Montréal between the end of June 2020 and the end of June 2021, dropping to $28.48 psf from a low of $29.22 psf one year ago. Despite the high availability rates, it seems that landlords are remaining firm when it comes to asking rents, especially for class A buildings. Their preference is to offer more flexibility to tenants by offering months of free rent and more substantial incentives to attract new occupants.

Therefore, for companies looking to relocate to higher quality buildings, these conditions may prove quite favorable, especially since many landlords are open to creative approaches. Some landlords are offering very competitive packages, especially when it comes to larger tenants.