Another Section 37 Gaffe in the WQW Neighbourhood

If you are outraged that the City has disregarded the community’s needs and desires, and acted in the interest of a commercial developer rather than fulfill its obligations to a charitable arts organization, then please join us at these upcoming events to learn more and support TMAC and the future of Toronto’s arts and cultural spaces:

TMAC Info SessionMonday, June 22, 6 p.m.
Bento Miso Collaborative Workspace
862 Richmond St. W. at Strachan

City Planning Consultation Meeting for 36 Lisgar StThursday, June 25, 6:30 p.m.
Parkdale Library (1303 Queen St. W.)

More Details here:

http://tomediaarts.org/open-letter/

Section 37 is now Section 37 Gallery

Page update with events coming soon.

The Common Area Factor

Three most important terms in leasing/renting space are usable square footage, rentable square footage, and common area factor. Together, they determine the amount of your monthly rent.

Usable Square Feet simply means the square footage that is rented to be used exclusively by the tenant. Usable square feet includes private (tenant-only) rest rooms, closets, storage and any other areas used only by the tenant.

Rentable Square Feet combines “useable square feet” plus a portion of the common area.

The Common Area Factor is a number which refers to shared spaces within a building. These spaces include common areas such as lobbies, amenities which all tenants of the building use, storage, garbage and storage areas. The difference between usable square feet and rentable square feet is generally between 10-15%, with rentable square feet reflecting a higher amount (cost) than just usable square feet.

Leasing Workplace Space: Usable Vs Rentable Square Feet (chuimaa.wordpress.com)
Understanding the Common Area Factor Rentable vs Useable Square Feet (coydavidson.com)
What is a standard common area factor? (loopnet.com)
Common Area Factors Explained (lease.io)