4 Reasons Why You Need a Tenant Representative
Tenant representatives are there to help you navigate the complexities of commercial real estate and help you make the best deal possible.
They provide services free of influence of landlords and with extensive market knowledge to help you secure a lease, negotiate, project manage and more. Here are our top 4 reasons why you need a CRE broker that’s focused on tenant representation only.
- Give you the leverage you need
Although resigning the lease may seem like an easy decision; you could be costing your company by not pursuing all options and evaluating the market.
A tenant advisor works for you alone, and your best interests. Using your employee, company and customer data, an advisor can help understand your specific needs and assist you with space forecasting 3, 5 and sometimes 10+ years out.
This is even more important in the post-pandemic world, where you might want to negotiate COVID-friendly clauses and account for a higher proportion of your staff working from home. As this will be unchartered territory for many tenants, it’s even more important to partner with an advisor that is able to negotiate with only your best interest in mind.
2. Find the best space for you
Commercial real estate tenant advisors will show you all the spaces that meet your requirements. In contrast to landlord representatives who may be biased, prioritizing spaces they’re representing. A tenant rep advisor has no additional vested interest and this will allow you to find the best space for you,
Tenant advisors bring all available space to the table, ,s they have no allegiance to specific Landlords or spaces. This allows you to see the full market and to make the best decision for you based on the full market options and prices.
3. Secure the best deal
As a tenant you don’t come in contact with lease documents on a daily basis. As a busy professional you don’t have the time or necessary knowledge to thoroughly research all the market rates and lease terms. Further, as many leases are often drafted by the landlords, they are written for the landlords’ benefit.
A commercial real estate advisor sees hundreds of leases and has the advantage of knowing market averages and what articles may need to be included in the lease. They do this for a living and have the skills to strategically negotiate a competitive commercial lease that’s in line with current market conditions to secure the best possible deal for you.
4. Save you time and resources
Securing and researching a new space can be a complex and time-consuming venture. Likewise, lease negotiations are time consuming with a lot of back and forth. Using analytical tools, as well as employee, company, and customer data, an advisor can help you understand your specific needs and assist you with space forecasting for years to come – leaving you with time to focus on your business.
Exis is a global partnership of corporate real estate advisors who are exclusively focused on representing end-users of commercial and industrial property. Want to find an Exis broker in your location to help you secure the best deal? Get in touch with us today.