Office Space Tenant Representation

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Office leasing is a popular rental option these days.  It allows business owners to have a place to engage in all of their office dealings yet not have to worry about the hassles which often go along with owning commercial office property.  An office tenant representative will protect the interest of you, the business owner, and help to make sure that your leasing experience is a success.  There are many different benefits associated When looking for a rental office, it is best to have office tenant representation along the way.  with office tenant representation and some of the more pertinent ones will be discussed below.

An Office Tenant Representative Will Help You to Choose the Best Rental Property

Frequently, when a business owner is shopping for a rental office, they may not know exactly what type of property they need in order to properly fulfill their needs.  When you have an office tenant representative on your side, the tenant rep will be able to look at the different office buildings with you and help you to choose the best one for your business needs.  The office tenant representative will take into consideration your line of work, need for space and number of employees which you will have in-office at any given time.  With a reputable office tenant representative on your side, choosing an efficient and proper commercial rental property will be as achievable.

Office Tenant Representatives Help Commercial Tenants Understand and Negotiate Leases

Another extremely important aspect of having an office tenant representative is that this individual will help you to understand the lease and negotiate the lease terms so that they benefit you the most.  Oftentimes leases, especially commercial leases, are so full of legal lingo that the commercial tenant will find it difficult to understand what it really states.  With office tenant representation, you will have an advisor to help you understand the terms, leasing process and current market terms, you as the future office tenant will have fewer? as your office tenant representative is well-versed in this area and highly capable of explaining it all to you easily and quickly.  This will help you to negotiate the terms of the lease so that it is fair to you and will benefit you best in the end.

With Office Tenant Representation You Are Safeguarded Throughout the Lease Term

Once you sign the office lease, the relationship between you and the office tenant representative should not end there.  When you have experienced and qualified office tenant representation, you should have that rep by your side the entire term of the lease.  This is helpful should any issues arise during the lease term, as your attorney and office tenant rep can speak with the commercial landlord on your behalf.  The office tenant representative can help be the mediator and ensure that your rental relationship with your landlord is as amicable as possible.

Office Tenant Representation Is a Wise Move

When you review all of the benefits associated with office tenant representation, it is easy to see why this type of safeguard is simply a wise move to make.  With an office tenant representative by your side, you can make the best rental decisions and ensure that your office rental situation is as good as it can be.  Again, your office tenant representative will protect you and your business by helping you to choose the right office setting and negotiate the best office space terms.  When you have a qualified office tenant representative at your service, you can focus on other business-related duties while the office tenant rep deals with office rental issues for you.  All in all, office tenant representation is the way to go when embarking on renting commercial property.

Office Space: Lease Negotiation Tips

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1. Be Ready, Willing and Able to Walk Away

The biggest mistake many tenants make is not developing legitimate alternatives to their first choice, whether a new space or a lease renewal.  If a landlord believes you’re not willing to switch to a different property, you lose your negotiating leverage.

2. Start the Process Early

Time should be your ally, not your enemy during negotiations.  Landlords know that the managers of other buildings can take six to eight months to create a space plan, get construction pricing, agree on a rental rate, prepare a lease document and ready the space for occupancy.  If you wait too long before asking for a renewal proposal, you’re telling the landlord that you’re not considering any other options.

3. Know the Whole Picture Before You Start Negotiations

Is the office building being sold?  Is the largest tenant moving out?  How much free rent did the last tenant get?  Does the building have HVAC or parking problems?  What is the landlord’s financial situation?  Candid, complete answers may not be forthcoming from the landlord or his broker.  Expert research can make sure that what you don’t know won’t hurt you.

4. Make Landlords Compete For Your Business

The key to a successful negotiation is creating competition between your current landlord and other landlords in the area.  You should have an experienced advisor providing the proper market research, lease comparables and the negotiating skill to use that information to create leverage for you.

5. It’s In Your Best Interest To Have A Tenant Representative Negotiate For You

Unless you’re a real estate professional, it’s not a good idea to negotiate a lease deal directly with the landlord’s broker.  An experienced tenant representative will help ensure that you receive the best possible rates, terms, incentives and lease clause protections.  Remember, the landlord’s representative negotiates leases every day; you may do it once every 3 to 4 years!

6. Hiring A Tenant’s Representative Doesn’t Cost You More Money, But It Can Save You Money

Occasionally a landlord will “try to save you some money” by discouraging you from engaging a tenant representative.  Don’t be fooled.  He’s not doing this out of the goodness of his heart.  He knows that without a tenant representative you’re more likely to be in the dark about market rates and terms, and less likely to shop the market, or consider other alternatives.  That means more money in the landlords pocket.

7. Make Sure You Are Comparing Apples To Apples

Business owners who are not experienced with commercial real estate often find it difficult to perform a true “apples to apples” comparison of different facility choices.  Lease terms such as full service gross, modified gross, triple net, tenant improvement allowances, rental abatement, escalations, base years, operating expense stops and loss and load factors can obscure the true amount you’re paying and make legitimate comparisons difficult.  A good tenant representative will sort through all this for you.