What to expect from your Tenant Rep Broker
Finding office space for your organization - and then successfully negotiating the right office lease terms - is a time consuming and complex task which is best left in the capable hands of a Tenant Rep Broker. If you attempt to undertake the process of finding office space on your own, it can lead to potential pitfalls and cause many unnecessary hassles that you really don't need when planning an office move.
Hiring a Tenant Rep Broker to act on your behalf will eliminate the potential pitfalls, save you time in site selection and enable you to end up with more favorable office lease terms for your business.
When working with a Tenant Rep Broker here's some of the things you can expect from their service:
Analyzing your Office Space needs
A good Tenant Rep will assist you in calculating your office space requirements and what type of building would best suit you. This will prevent you from leasing too much office space which can end up being too costly.
Investigate the Market
A Tenant Rep Broker will have full access to a complete database of office properties in your area, and they also are aware of other office properties that are coming onto the market within your timeframe. From this list, a Tenant Rep Broker will draw up a suitable shortlist of properties that match your budget and space requirements.
Create Leverage
Once you have viewed the properties, your Tenant Rep Broker will begin a bidding war with the relevant landlord of each property (usually 3) to create the necessary competition that will optimize your negotiating position. This enables you to get the very best deal as far as rent, office lease incentives etc. are concerned.
Negotiate a favorable Office Lease
A good Tenant Rep is a strong negotiator, and will even act as the "bad guy" during lease negotiations. They are familiar with all the ins and outs of what makes a good deal as far as office leases are concerned. They are also only too well aware that the initial draft of any office lease only represents the wishes of the landlord, so having a good Tenant Rep will put your best interests forward and ensure a good settlement is reached on your behalf.
Prepare the Paperwork
Having all the paperwork prepared on your behalf by a Tenant Rep Broker will significantly take the stress out of planning an office move. This paperwork will need to be forward to a Real Estate Lawyer for close examination before you sign anything. For clarity, peace of mind and to ensure you end up in the right office space, hire a Tenant Rep Broker - find one in your area here.
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