Tenant Representation Process
Finding Office Space With The Help Of A Tenant Rep Broker
If you are moving out and looking for a new office, it is crucial to hire a Tenant Rep Broker to guide you through the process, secure the right office space and negotiate a competitive office lease on your behalf.
Below is an outline of what you can expect from the Tenant Representation Process, timings and what each stage entails:
- Requirements Review (1-2 weeks)
This is an introductory stage between your business and the Tenant Rep Broker. They need to get to know you, as a business and get a clear understanding of your office space requirements. Be prepared for this by calculating how much office space you are going to need using the Free Office Space Calculator.
- Property Tours (30 days)
Your Tenant Rep Broker will select a number of properties for you to tour that match your criteria. Use the Office Space Checklist to help you evaluate each property according to your space needs and financial limitations.
- Lease Negotiation (2-6 weeks)
Once you have shortlisted a few properties that you feel happy with, your Tenant Rep will commence lease negotiations to see which property comes out the most favorable from a cost and leasing perspective.
- Lease Review (2-4 weeks)
One property is selected and the lease needs to be reviewed several times between your Tenant Rep and the Landlord. This is the stage at which your Real Estate Lawyer gets involved to tighten up the wording and ensure your legal interests are protected.
- Space Planning & Drawings (2-6 weeks)
Your Office Space Planner will start work on making the space a functional and inspirational place of work. This will include space planning, design concepts and any build out required.
- Permit Process (45-60 days)
Permits are required to approve the works with the Landlord.
Hire an Office Moving Company to take of the logistics of packing, moving and transferring your office over to the new facility.
Remember that these timelines may vary according to the size of property you are leasing and the condition of the premises.
To help you create your own timeline and punch-list, download the Office Moving Timetable.
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