Can you go and buy a commercial property or lease commercial space without any representation? Sure! Will you get the best deal? Will you get the best properties for your business and needs? Will you understand everything about the leasing process? Will you understand the legal jargon that comes with the contract? Maybe or maybe not, but like anything, trying to do things yourself or without the help of a qualified and knowledgeable professional, we can tend to slip up, make mistakes, and basically lose out on money and time.
As a tenant representative, my job is to make sure that you, the business owner or leasee, is cared for, respected, and gets the best deal on the property. Time is definitely money and a tenant representative can definitely save you money and time but that’s not all. Here are five reasons you may need a tenant representative for your next commercial property lease or purchase.
#1. Leverage.
Leverage can be huge. If you are new to an area or unfamiliar with the process, you may not be aware of all of the properties that are available to you. A tenant representative or tenant advisor only works for you and your best interest. Using different data including employee or company data, we can help you understand specific needs and help you throughout the process from price, rate of return, and space.
#2. Best space.
As a tenant representative and because this is my primary occupation, I am well-versed in not only the process but the types of space and property out there. Simply doing a Google search may not return to the best results for what you’re really looking for. I have connections through a variety of tenant and business as well as commercial real estate networks that can help you find the right property for your needs. What you might find online may not be the best space for your needs or the business so using a tenant representative can help you find those properties that you may not find anywhere else.
#3. Saves time.
The last thing you want is to waste your time. You could be sitting at your desk clicking through hundreds if not thousands of different websites looking for the right property and calculating the right rate of return, needs, employees etc. Using a tenant representative means all that is done for you. You simply tell me your business and what it is you’re looking for and I can do all of that work for you presenting a well-thought-out and researched data report to help you find the best properties and what makes the most sense for your business and your goals.
#4. Negotiations.
As a tenant representative, it is my job to negotiate on your behalf for the best price and the best terms. When it comes down to price and space, the next best thing is terms. How long do you want to stay in the property? What are your long-term goals for the business? Do you foresee the business growing and will you need more space in the future? Are you downsizing and will other people need specific offices with in a certain space? All of these negotiations as well as terms, down payments, lease amounts, and time can all be negotiated through a tenant representative, which means you won’t need to go back and forth between the owner and yourself.
#5. Cost.
Obviously cost is a factor in your bottom line matters. Using a tenant representative can actually save you money not just in the short run but the long run as well. Most brokers receive some type of compensation from the total gross rent, however, the amount of time it takes, negotiations, and everything we’ve listed here can really save you much more than the small percentage that it takes to use a tenant representative. It really makes financial sense to use a representative that has your best interest at heart.
For expert tenant representation in White Plains New York and surrounding communities such as Tarrytown, Yonkers, new Rochelle, Port Chester and Greenwich, contact our office at any time.
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