When it comes time to relocate your business, it’s crucial to work with a Tenant Representative Broker (Tenant Rep) in order to get the best possible deal. With their local market knowledge and relationships with landlords and Landlord Representatives, the process will save you valuable time and grueling research. The Tenant Rep is your advocate, understanding your company’s needs and concerns to find the best fit.
Throughout his career, SW Broker Michael Murray has seen too many business owners and entrepreneurs lose out in negotiating leases that could easily be avoided if represented by a commercial real estate professional. “Their expertise is often sharply focused on the direction or vision of their business operations and they sometimes overlook lease terms that could be altered in their favor. Engaging an experienced Tenant Rep is an easy way to avoid issues that may haunt them down the road, “said Murray.
Here are 4 Reasons to consider using a Tenant Rep to find your next office space:
- Market Knowledge
SW brokers are equipped with the latest technology to stay up to speed with market availability and pricing. You will not waste any time looking at dead end properties that have little probability of working out in the short or long term. Brokers have an ability to find or know about deals that are “off market“, such as sublease opportunities that are yet to be advertised.
- Objective Property Surveys
Shannon Waltchack Tenant Reps are neutral parties looking to get clients into the best possible space in the most efficient manner with no personal bias or conflicts of interest. When surveying building options, we comb the market for potential matches, connecting with local brokers and owners. Zero partiality allows the client to get a clear picture of what might work best.
- Optimal Financial Terms
Due to the Tenant Rep’s negotiating power and experience within the marketplace, the tenant can come away with more concessions and reduced costs. This benefit is a result of the Tenant Reps constantly cultivating relationships with landlords and Landlord Representatives.
- Enhanced Lease Language
Tenant Reps understand what items to look for in leases to allow the tenant the most flexible and beneficial lease terms possible. This goes beyond the most important deal points negotiated within a Letter of Intent (LOI), but subsections within a lease document that correlate with the LOI.