The world of commercial leasing can be complicated. Getting what you need and getting the most for your rent requires skillful and experienced negotiation. Rather than leaving these critical negotiations to chance, your best option is to work with a tenant representatives company. Tenant reps play a critical role in commercial lease negotiations and can help you get favorable lease terms. Consider the great reasons belows as to why it is a great idea to bring a tenant representatives firm on board when trying to negotiate your next lease terms.
1. No Cost to You
Of all the reasons why you should work with a local tenant representatives company, getting all of their knowledge, experience, and service for free is the most important one. Tenant reps work on your behalf at no cost to you. They are paid a share of the brokerage fees the landlord’s broker gets from obtaining a successfully signed lease.
Even though they work to help you get more of what you want, these agents play an important role in a landlord being able to successfully lease their spaces, which is why they are paid from the brokerage fees.
2. Informed and Knowledgeable
Commercial agents who are employed by an expert tenant representatives firm are informed about the local commercial market and know the leasing trends that can affect your deal. They are aware of the best properties available and connected to other agents who can help them find what you need.
They are also quite experienced in the leasing process. Reps understand all leasing terminology and practices, legal elements, and the many loopholes that could affect your transaction in both positive and negative ways.
3. Save Time and Hassle
Lease negotiation can be time-consuming and confusing. Working with a tenant representatives company eliminates most confusion while allowing you to continue to deal with your day-to-day business operations. Reps handle the many back and forth communications encountered during negotiations on your behalf.
4. Skilled Negotiators Representing Your Interests
Landlords have brokers who work on their behalf to represent their interests. Entering into lease negotiations without the assistance of skilled tenant reps leaves you vulnerable and typically unable to effectively negotiate the best lease terms.
Reps understand your business and leasing needs and can negotiate a more favorable lease for you. They understand how to leverage costs to get you more for your money. They are also aware of current market conditions that can be used as bargaining points, know creative leasing options, and work to prevent landlords from taking advantage of a situation.
5. Effective Dispute Settlement
Even after a lease is signed, agents from a tenant representatives firm are there to help you in the event disputes arise. Whether there is a problem with lease interpretation, a landlord not delivering promised concessions, or disputes over lease extensions or renewals, agents will help you resolve concerns in favorable ways. They continue to perform as your advocate throughout your lease period, during renewal or termination, and whenever questionable circumstances arise.
There really is no reason why anyone seeking a commercial lease should not work with an experienced tenant representatives company to help them through the lease negotiation process. At no cost to you, tenant reps provide you with the essential skills, knowledge, and experience to negotiate the best lease and will help you achieve your leasing goals. Whether seeking a new lease or renewing one, you can get the most from skillful negotiations when an agent from a tenant representatives firm is there to assist!