Do I Need Tenant Representation?

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Chicago commercial tenant advisorsA commonly asked question when looking into commercial leasing or renting is if you need tenant representation. Here are a few ways that tenant advisors can help your choices so you can decide if they can help you and your business. There are three main functions that tenant advisors can help with.

  1. Strategy Development – When looking to either move your business or to renew your lease it is important to consider what your strategic plan is for the space. Experts are able to achieve maximum value and flexibility within the market to your best advantage.
  2. Extensive Market Experience – A broker will not be playing “both sides of the fence” so to speak. So when looking for space options, an expert will be able to leverage their existing relationships with previous tenants, landlords and brokers to ensure lowest prices possible for your business.
  3. Financial Analysis – A financial analysis will be performed by your tenant advisor to enable you to shop spaces and price ranges that fit your overall strategy. This budget planning can help with how much you pay overtime and to make sure that your investment is safe.

Consider all of the options when choosing tenant representation for your company. Are you looking for Chicago commercial tenant advisors? Check out TenantAdvisors.com for more information about finding your perfect commercial space in Chicago.

Office Space: Expect The Unexpected When Negotiating Your Lease

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There are many terms which office space tenants think of during the office space lease negotiation phase. From the rental price to parking inclusions to who pays for the common area maintenance, there is certainly a lot of terms to consider. One aspect which tenants do not always consider during negotiations is what the relationship of the parties will be should a natural disaster occur, such as a hurricane or tornado, and cause damage to the premises. Although these instances don’t arise all that frequently, should they occur, you want to be sure that you, the tenant, are adequately protected.

Why You Should Consider Natural Disaster Safeguards

As a general rule, the tenant in commercial office space leasing agreements will still be responsible for paying rent should the premises become unusable in whole or in part as a result of a natural disaster. This is often the general terms included within a commercial lease agreement. Therefore, it’s important to safeguard yourself against these types of occurrences so that you won’t have to pay rent, or perhaps only pay a certain amount of rent, should this type of disaster occur.

Although natural disaster scenarios are not too common, these can and do happen, which makes protecting your interests as a tenant a necessary step to take. After all, you don’t want to find yourself in a position where your office space is unable to be occupied by you and your employees for an extended, or any, period of time. This lack of occupancy will lead to lost income and could, in turn, damage your business earning status.

How You Can Protect Your Tenancy Interests

The best way to protect your tenancy interests should a serious storm cause damage or produce restricted operations of the office space, is to include a term within the lease which states that the tenant will be free from paying rent or only have to pay a certain amount during the time in which the office space is unable to be used. This is a negotiation phase issue, which must be put into the lease in order for it to be effective. You will often find that the landlord believes such a term to be reasonable but it will only apply if it is included in the lease at the time in which it is signed.

This may not be an issue which is often on a tenant’s mind at the time the lease is signed. However, it is one which the tenant must consider ahead of time and have a safeguard in place via a lease term just in case the unexpected natural disaster would occur.

A commercial lease is a lengthy one and has plenty of terms to peruse, consider and agree to prior to signing it. Don’t let the unexpected event turn your office tenancy into a troublesome one. Make sure that you include the pertinent terms, one such term being the rights of the tenant should a natural disaster occur to make using the office space difficult or impossible.

Wheeling Office Leasing

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Wheeling office leasing
The village of Wheeling, located in the northern suburbs in Chicago, is a great example of an area that is as welcoming to families and potential home owners as it is to commercial businesses. Wheeling is often associated with its “Restaurant Row” as well as the airport it maintains partial ownership of. Wheeling is also easily to travel to and from with its proximity to the interstate and public transportation system.

Since Wheeling is not right in the heart of downtown Chicago, business owners looking for office space should really consider this village as a viable option. Wheeling office leasing, as opposed to Chicago office leasing, will give one plenty of room to wheel and deal, so to speak. Why attempt to negotiate on high prices when an economically safer choice exists, especially when it remains in such close proximity to your ideal consumer audience? Those in the food industry in particular may find it hard to resist the appeal of Wheeling. Being in a place that people flock to for food is certainly a good fit for such entrepreneurs, on or off Milwaukee Avenue. Get in contact with us here at TenantAdvisors.com today to learn more about how we can help you secure a great deal on office leasing in Wheeling

The Rewards of Rosemont Office Leasing

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rosemont office leasing
Location is often one of the key variables in the equation for any business’s success. A good location in a highly populated metropolitan area will be great for maintaining constant traffic; however, the cost to have such a prime location is often immense. Conversely, one can save money on a less expensive locale, but run the risk of seeing little to no prospective customers, or having to lower your goods’ prices due to a lack of affluent clientele. Anyone in business is well aware of the gentle balancing act that business owners go through between supply and demand and operating costs vs profits. In the Chicago area exists an excellent median, often referred to as the “Golden Corridor”, and for good reason. Consider Rosemont, a village with whose prime placement between Chicago and O’Hare International is more than ideal for a business in terms of location. The fringe benefit of being on the fringe of the city is that there is plenty of traffic in both directions, without the costs associated with big city living- or leasing in this case. Rosemont office leasing is a great option to consider if you are looking for the prime location for your business. Contact us today to learn more.

Consider Parking Options When Leasing Commercial Office Space

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Office SpaceMany business owners are often focused on the office space itself when leasing a commercial office for their company. Although the interior of the office is quite important, it is vital to not overlook parking options when leasing office space. This is especially relevant in cities and largely populated areas where having parking on-site is an absolute necessity.

Inquire About Parking Right Away

When you are interested in a particular office space and are at the point of seriously considering leasing the chosen location, make sure you inquire about parking options right away, especially if parking is a must for you. This is a lease term which can often make or break a leasing commitment and force you to look elsewhere, especially if parking is what you want but not what you will receive if you lease that particular office space.

Find Out Whether Parking is Open or Reserved

Leasing will either be open or reserved in nature. With an open parking arrangement, you will have access to parking at a garage or lot but not receive designated spots, which means if the lot fills up, you are out of luck. With a reserved parking situation, you will have set office space parking and know that when you pull into your office parking lot, your parking spot will be available. This is often an important component for office space tenants to consider.

Ask About Client Parking Options

Even if you know that you will have office space parking for both you and your employees, you may not have parking spots available for your clients. It’s important to ask about this issue, and then determine if client parking is a necessity or not. Client parking is often an attractive feature as many customers and clients like to deal with businesses which offer ease of access to their facilities.

Make Sure Parking Terms are Included Within the Leasedeerfield

Even though you may have discussed parking terms and agreed that these features will be included with your tenancy, you must put it into writing and ensure that the lease contains the term related to parking. Rather than have a statement to the effect of “parking is included,” you should insert information related to how many parking spaces are included, whether parking is reserved or open, if clients may have access to parking spots while doing business with your company and other specific parking terms. Once the parking terms are included within the lease, you can rest assured that parking spaces will be available to you during your commercial office space tenancy.

Parking may not be a must-have inclusion for certain office space tenants. However, for others, having the access to parking for both employees and clients is a necessity which simply cannot be omitted from an office space tenancy. So long as you determine your parking needs, inquire about parking options and ensure that you will have parking spaces available to you, your company and clients, plus include such terms within the lease, your office space lease will consist of the pertinent items you need to do business efficiently.