How can you benefit from hiring a tenant representative for commercial leasing?

1 Market Knowledge

A tenant representative has extensive knowledge of the local market, including the availability, pricing, and incentives of different properties. They can help you identify the best options for your business needs, budget, and preferences. They can also provide you with valuable insights into the market trends, the landlord's reputation, and the potential risks and opportunities of each location.

2 Negotiation Skills

A tenant representative has the skills and experience to negotiate the best possible terms and conditions for your lease agreement. They can leverage their market knowledge, their relationships with landlords and other brokers, and their understanding of your goals and priorities to secure the most favorable rent, lease duration, renewal options, tenant improvements, and other clauses. They can also protect you from hidden fees, unfavorable clauses, and unrealistic expectations that might otherwise cost you dearly in the long run.

3 Time and Cost Savings

A tenant representative can save you a lot of time and money by handling the entire leasing process for you. They can do the research, the analysis, the site visits, the proposals, the counteroffers, and the paperwork on your behalf, while keeping you informed and involved at every step. They can also coordinate with other professionals, such as lawyers, architects, contractors, and movers, to ensure a smooth and timely transition to your new space. By hiring a tenant representative, you can focus on your core business activities and avoid wasting your resources on a complex and tedious task.

4 Conflict Avoidance

A tenant representative can help you avoid conflicts of interest and ethical issues that might arise if you deal directly with the landlord or their broker. The landlord's broker has a fiduciary duty to represent the landlord's interests, not yours. They might not disclose all the information, options, or alternatives that could benefit you as a tenant. They might also pressure you to accept unfavorable terms or conditions that could harm your business in the future. A tenant representative, on the other hand, has a fiduciary duty to represent your interests, not the landlord's. They can act as your advocate, your advisor, and your ally throughout the leasing process.

5 Relationship Building

A tenant representative can help you build a positive and lasting relationship with your landlord and their broker. They can facilitate the communication, the trust, and the cooperation between the parties, and help resolve any issues or disputes that might arise during or after the lease negotiation. They can also maintain contact with you and the landlord throughout the lease term, and assist you with any questions, concerns, or requests that you might have. By hiring a tenant representative, you can enjoy a more productive and harmonious partnership with your landlord and their broker.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?