6 Reasons To Hire A Tenant Rep
A seasoned Tenant Rep Knows the Market on a deep level
A competent Tenant Rep will be able to advise you about Rental Rates, make sure you obtain appropriate Tenant Improvement dollars, and be mindful of any current vacancies you may be able to benefit from.
Tenant Reps save you time
You need to make certain your business is running at all cylinders. A Tenant Rep will search for the appropriate properties to house your company that match your criteria. We will assemble a comprehensive property report that explains all the options for you, and discuss each one with your team. This process will take a few weeks to put together which is valuable time you can spend running your company. Your Tenant Rep will also save you time by coordinating with other agents and arranging site tours to assist you in making a decision.
Tenant Reps save you money
A Tenant Rep will have direct awareness of asking rental rates in the market and what the strike rates are including available concessions. A skilled Tenant Rep will advise whether this is a viable transaction or if the landlord is expecting too much for their real estate.
Tenant Reps are acquainted with all the players
In most cases a seasoned Tenant Rep has negotiated many transactions with that landlord. Being conscious of the landlords negotiating style and being aware of other comparable deals at that property and competing properties will have a significant impact in negotiating the most economical transaction.
Tenant Reps know the competitors
Active Tenant Reps know which other tenants are negotiating in the market. This strategic knowledge will give you an advantage in terms of moving on a space before it is filled by another tenant.
A business owner does not pay directly for a Tenant Reps services
The landlord makes the actual fee payment. It is important that the scope of services to be provided by the Tenant Rep and the fee associated with those services be clearly defined prior to starting the relationship.
This is a small preview of the reasons utilizing the services of a Tenant Rep will benefit your company.
Please contact me 12 to 18 months prior to your lease expiration date to schedule a time to discuss your upcoming office space needs.
Mark Rauch
Principal
213-430-2469 direct | 818-943-2959 cell