Tenant Representation - Are you being served?
A Tenant Representative or 'Tenant Rep Broker' can perform a valuable service for any business moving office. There is a lot more to the role of a Tenant Representative than landing you an ideal office and getting you the best deal. For both of these to happen, your Tenant Rep Broker will need to fully understand your business needs and office space requirements.
These may include:
Location Analysis
Location is an important factor when considering office space and you will need to weigh up your options carefully. If your current office location is not serving your client base efficiently you will need to find a location that does.
Office Space Analysis
A Tenant Rep Broker will look at how you use your existing office space and assess what facilities and options are important to you as a business? Open plan, enclosed offices, shared building, no. of conference rooms etc.
Building Analysis
What type of building would be suited to your business? Modern? Traditional? Shared or exclusive? How many storeys? Which floor?
Financial Analysis
How much office space can you afford? Any potential Landlord will need to do stringent financial analysis to assess whether you are going to make a reliable tenant.
Office Lease Analysis
Office Leases come in all shapes and sizes, not least the inclusion of certain clauses that you may or may not want included. A Tenant Rep Broker will have full knowledge of which clauses to negotiate on your behalf, depending on your financial and operational circumstances.
With all this information at their disposal, your Tenant Rep Broker will be able to find you the most suitable office space and negotiate the best deal. Furthermore, it means you'll form a trusted relationship with your Tenant Rep Broker, and have the assurance that nothing has been overlooked and that your interests are being served from start to finish.
Failure to have good Tenant Representation may lead to misinformed decision making, a delayed office move and place your business at risk.
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