Benefits of Connecting with Tenant Rep for Commercial Leases
TENANT REPRESENTATION BROKERS
In Short: They Help You & Your Company Grow
Any company, whether it be a young startup or a seasoned business looking to grow, will face long-term real estate decisions that affect every aspect of a company. There's a secret that big and small companies use to get the best space… at the best price… with the best process.
They Use a Tenant Representative Broker to Help at No Cost… as All Fees are Paid by the Landlord
Tenant Reps are Licensed Commercial Real Estate Professionals that focus on working with tenants of office, retail or industrial space. If a purchase or expansion is essential to the health of your business, finding the best spaces before they come onto the market is critical to negotiating the best deals and terms. Having an expert in your corner throughout the process will provide the Comfort and Confidence needed to be Committed.
16 Benefits For Connecting with Tenant Reps
1. Fees - Commissions for both sides, the listing broker and tenant rep, is structured like a residential real estate transaction and paid by the Landlord
2. No Conflicts of Interest – Tenant Rep’s have a fiduciary responsibility to deliver the most advantageous representation possible
3. Save Time – Tenant Reps will hunt properties and identify good buildings and which ones you want to avoid while vetting & interviewing landlords
4. Listen to Understand – History and business plan needs & aspirations
5. Back Office Support - Arrange showings, coordinate responses and proposals, gather paperwork, draft lease, ready the space for move-in
6. Research – Provide informed advice and consultive services to analyze valid comps and pricing as well as impact of regional, state, and federal taxes
7. Market Knowledge & Research - Receive informed advice and consultive services based on intimate knowledge of specific markets
8. Space Access – Utilizing market knowledge, awareness, industry connections, and commercial real estate tools, Tenant Rep’s have access to market & off-market opportunities which will help find the perfect property.
9. Site Evaluation - Ensure location meets criteria for size, parking, and access
10. Demographic – Tools to gauge local ‘likely customers’ & viable labor pool
11. Schedule Tours – Arrange showings and only visit properties that meet detailed client specifications
12. Negotiating Terms - Process can quickly become complicated and cause problems that might not be ideal for your business:
13. Lease Rates - Analyze valid comps and pricing to determine terms according to similar properties in the area
14. Personal Guarantees - Handle negotiations to limit exposure
15. Tenant Improvement - Negotiate allowances to improve or customize
16. Use Issues - Help when & if ’zoning’ or use’ becomes a question
