Importance of Tenant Representation
Let’s be reasonable, you will have too much to do if you are thinking of buying or leasing a property. Looking for commercial real estate to hire is more difficult than looking for personal real estate. As a business owner, you simply need to have a tenant representative working for you to secure the best location for your business for the best price.
A tenant rep is an expert that helps companies find the rental space that meets the needs of the property owner and the business enterprise. Offering a lot more than finding properties, a tenant representative also ensures that the tenant has real-time information about the entire leasing process.
The Renter Rep Works for you personally
Even though, the landlords agent could be helpful, it is critical to understand that they are ultimately focused on getting the landlord the best deal possible. If the site is an excellent one for you or a bad one, the property owner rep is encouraged to sell it to you either way. The landlord’s rep may seem to be helpful by highlighting both negatives and positives about the house, nevertheless, you can’t be sure that they are totally forthcoming with revealing the whole fact to you.
A tenant representative focuses exclusively on the needs and interests of the renter, typically not the property owner or the building. As the business owner, you can be certain that your tenant rep can help you find a very good deal for the space that your business requires. Before you even start looking for a commercial rental space, be sure to have a tenant representative with you. Through the assistance of a tenant representative, you will gain critical insights by evaluating the countless locations your rep will get for you in addition to presenting a number of real estate to compare. The tenant rep will help you understand the marketplace and also assist you in securing the best space.
Get only real-time information about a property
Tenant representatives are largely more knowledgeable about the marketplace than you may be, a rep might be able to recommend properties that you may otherwise have no knowledge about.
When looking through free property listing sites, it could be difficult to get the entire picture of what is available on your own. Many brokerage organizations do not keep their listings updated on free list sites. Although, searching through a listing site such as co-star for available commercial space can help you get a feel of the marketplace; then again, it requires lots of time and effort to move site to site to find every space available for sale.
A tenant representative has numerous resources to resolve these problems and discover the best real estate options on the marketplace. Commercial real estate agents get access to the most ronust listing directories, Costar and Xceligent, fundamentally the MLS of commercial real estate.
– Industry Connections: Tenant representatives have professional connections with both leasing agents and landlords, that allows them to easily get up to date information on what’s currently available.
– Off-Market Options: Through their industry relationships, tenant reps could also have information on spaces that aren’t on the marketplace yet, as well as companies that are trying to sublease part or all of their space.
You do not want to pay more than you have to
Renting the perfect commercial space is not the only thing that should bother you. You will also be concerned about finding the perfect space at the best price. A good tenant rep know the real estate market inside and out. They are the best persons to tell you just what a fair lease price is in virtually any given area. A representative will also be available during vital discussions with landlords on rentals rates and rentals conditions, taking that pressure from you. More than anything, a tenant representative will ensure that you are not being exploited because they have your best interests at heart.
Typically you get these huge benefits at zero cost
Hiring a tenant rep usually does not make your bill more expensive. Normally, prospective tenants don’t pay tenant rep’s, it is the landlord that usually pay both parties (representatives) in the transaction. Furthermore, the service fee is structured based on the assumption that there will be two representatives sharing the fee. In the event that you decide not to use a tenant rep, the landlord rep will take both parts of the commission. That is to say that the fee for tenant representation has already been built into the price tag on the space you are looking to lease. If you are already spending money on it, there is no reason why you should not leverage the opportunity to have someone trusted on your side.
You can focus more on your business
Perhaps the most important benefit of tenant reps is that they take the weight of the property search and leasing process off your shoulder and allows you to give attention to your business goals. You will better spend your time on managing supply chains, customer relationships and a variety of things than looking for a work place. Even large companies with on-staff real estate specialists typically use tenant representatives to leverage their market knowledge.
Instead of spending the time and even days and nights and weeks to learn about the real estate market, find the right space, and work out the lease by yourself, let a tenant representative manage the procedure for you.
Think of a tenant rep as your own hired help, whose only goal is to help your enterprise find a very good work place at a cost effective rate. The tenant rep will manage everything, from needs assessments to financial evaluation to your final lease overview, while allowing to be as involved or uninvolved as you choose to be.
Time is money, and a good tenant rep can help you spend that time concentrating on your own business.
To ensure you are getting the perfect property for your business, a tenant rep is highly beneficial. At Emansland, we have a strong personnel of trained, reliable and experienced realtors and tenant representatives. We know the industry inside and out and recognize that our role is to ease the strain of finding and negotiating the right property for you. Give us a call to find out more how we help with Tenant representation in South-West Florida area. You can start your search from our listed properties.