Tenant Rep Brokers - Search & Acquisition
For most businesses property costs represent their single largest overhead. Having an awareness of how important it is to get the right office space (and then the right deal and the right office lease) is a key financial driver for business health. Every dollar saved on office space costs goes right to the bottom line.
Finding office space (and/or disposing of any unwanted/surplus office space) is a lengthy process which can produce many legal, technical and procedural challenges. Savvy tenants hire a Tenant Rep Broker to take on the search and acquisition of their new office space.
The SEARCH stage is all about identifying all available office space options that fall within a tenant's specified search area and size range. The brief is then further honed to include more specific requirements such as rental budget and age, style and type of office space. The Search phase culminates with the tenant receiving a tailored Office Space Listing Report which provides details of all the available office properties that meet the tenant's criters (and the listing report will also include full costing information).
The next part of the finding office space process is the ACQUISITION stage. Your Tenant Rep Brokers will work with you on which properties from the listing report you should view and then arrange the tour of properties on your "long" list. They will accompany you on the tour and advise on the suitability of each. This will result in you deciding on a shortlist and then, using their extensive & expert knowledge of the local office market, they will open negotiations on your behalf to secure your business its preferred office space on the most favorable market terms (to include rental rate, concessions, tenant improvements and lease detail).
Tenant Rep Brokers - the 123 you need to know about:
- They are experts in the local office markets and their job is to represent the best interests of tenants. They have an intimate knowledge of the market, the properties and the landlords. Leverage this knowledge to secure your company's new office property.
- Tenant Rep Brokers are able to survey the WHOLE office market in your required location because they have access to all office properties that are on the market (and even some that are not).
- There are NO savings to be made from not hiring a Tenant Rep Broker. Those tenants that do hire a Broker end up paying less for their office office space.
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