Top 10 Reasons for Tenant Representation
In this simple, 6 minute video, Gratis Commercial Leasing Advisors of Orlando Florida, explain Tenant Representation and the commercial real estate world in general terms. Tenant Representation in WINNIPEG works exactly the same way here as it does there.
Some of the top reasons most firm’s engage the services of a Tenant Representative are:
1. To ensure office tenants avoid the many pitfalls associated with not being fully aware of all the implications of renting office space. Even when leasing, the principals of Buyer [Tenant] Beware apply.
2. A Tenant rep’s goal is to obtain true economic savings and secure office space on terms that best reflect the needs of the tenant over the term of the lease.
3. The roles and responsibilities of a professional tenant representative are lengthy and varied ranging from needs assessment to execution of the lease.
4. To ensure the office space is as efficient as possible based on current requirements, and preserves the significant investment in improvements by addressing future growth.
5. At certain times, negotiations require frank discussions that can be uncomfortable. Tenant reps act as the buffer between both parties, preserving the goodwill between lessee and landlord for the future.
6. Tenant rep’s are trained to spot provisions in the lease document which, if left un-negotiated, could end up costing an unsuspecting lessee extra money during the term of the lease.
7. It is the tenant rep’s goal to minimize the potential for disputes that may otherwise arise during the term of the lease agreement.
8. To save tenants money by negotiating certain conditions out of the lease that would otherwise result in the lessee facing unexpected costs.
9. Tenant reps are familiar with the documents necessary to conduct the transaction smoothly. These documents (requests for proposal, letters of intent and lease agreements) vary from market to market. A tenant representative knows how to customize the documents for each transaction.
10. The tenant reps represent you and work on behalf of your best interests.