Do I need to Hire a Tenant Rep Broker when Moving Office?
7 Reasons to Use a Tenant Rep Broker when Relocating your Business
Engaging a Tenant Rep Broker can eliminate many of the hassles in the office space selection and negotiation process. If you're even considering going-it-alone, here are 7 good reasons that should help change your mind.
Do you really have the time to fully research the market, liaise with landlords and/or their brokers, arrange multiple property viewings, send out requests for proposals, do financial analysis and negotiate terms of the new lease - the list goes on! Even if you do have time to do these things, do you really think you'll do them as well as an experienced Tenant Rep Broker? Working with a Tenant Rep Broker saves you valuable time, and will enable you to focus on more important things - like running your business.
Tenant Rep Brokers know the local market inside out. Not only do they know what's on the open market, they're also aware of properties that may be coming up for lease in your required timeframe. They have a good grasp of the rents that have recently been achieved in your market, and which landlords are giving the best concessions, enabling you to make more informed choices.
Levels the Playing Field
If you undertake the process of finding office space on your own, you will be dealing with the Landlord's agent, who is there to represent the Landlord only. Hiring your own Tenant Rep Broker levels the playing field and provides you with unbiased information based on the best deal for your business (not the landlords).
Because Tenant Rep Brokers are expert negotiators, they can agree the most competitive lease terms with the Landlord's broker on your behalf. Important terms need to be agreed at the outset, like who is responsible for ongoing maintenance of the property, and whether the Landlord can contribute towards improving the condition of the space before you take occupation. These costly issues, amongst others, can be left to the tenant if they are not negotiated properly in advance.
Peace of Mind
Finding the right office space, and committing your business a lease is a big financial decision and not one to be taken lightly. With a trusted Tenant advisor you will be guided through the leasing process, and be able to secure the best office with a tenant friendly lease agreement.
Avoids poor Leasing Decisions
A poor leasing decision can affect your business for many years. There's a lot to consider when renting office space, not just the basic things like size, location and facilities - but also the finite details within the lease that you sign. Hiring a Tenant Rep Broker will save you time, money and help to protect you against the inherent risks associated with renting office property.
Yes that's right. You pay no broker fees if you're a tenant. The landlord of your chosen property pays all the fees and commissions due to your Tenant Rep Broker. So what are you waiting for?
If you need to find a Tenant Rep Broker, Help Moving Office can put you in contact with experienced Brokers in your area.
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