Commercial lease negotiations can be complicated, which is why working with experienced tenant representatives is important. These commercial real estate brokers work on behalf of tenant’s, providing much needed knowledge, experience and guidance. Most agents offer services to either the landlord or the tenant, depending on the circumstances; a few work with both tenant and landlord. Working with a dedicated tenant reps company provides one-on-one attention for tenants without any conflict of interest.
Working Both Sides
Even though the landlord pays for their service, the focus of every agent working on behalf of a tenant is always on their tenant, getting them the best leasing arrangement possible. Some tenant rep companies help a landlord lease spaces; however, this is done by negotiating with the landlord and keeping the tenant’s needs in mind. Brokers that work strictly for the landlord will try to protect the landlord’s interests. On the other hand, tenant representative help create the best leasing circumstance possible.
It may seem like an unconventional type of business relationship; however, a landlord also needs a tenant rep. By working together with a tenant as their focused representative, these commercial leasing agents eventually manage to make both parties happy. The tenant gets a leasing arrangement that meets their needs, and the landlord is able to fill open rental space.
Tenant Broker - Landlord Relationship
Based on the points above, it is important to work with tenant representatives who have established a good relationship with local commercial landlords, as this makes any negotiations process go more smoothly. Local landlords are also encouraged to develop relationships with all tenant brokers, not just their own. In most cases, it is tenant reps who bring clients to landlords, looking for space to lease. By forming a good business relationship with tenant reps companies, a landlord will have happier tenants, fewer leasing problems, and no surprises during negotiations. Companies of tenant reps can help match landlords with potential clients who are looking for commercial property to lease. This creates a win-win situation for both landlord and potential tenant.
Before lease negotiation start, tenant reps are hard at work for their clients, analyzing space requirements and helping find potentially suitable spaces. With an extensive knowledge of local real estate trends and properties available, these agents know the best places to consider for each, individual client. This is based on the size, location, cost, and type of accommodations needed to make a space the perfect commercial property.
The commercial real estate leasing market is very competitive, which means that tenants need the services of an experienced tenant reps company for the most favorable lease arrangements. Commercial lease negotiations done with tenant representatives functioning as liaisons between a landlord's commercial real estate broker and the prospective tenant, offers the best results for all parties involved!