Your primary business is running your company, so hopefully, you don’t have to lease new office space or negotiate renewals more than every 3 to 5 years or so. Usually businesses lease office space only a few times in over the life of the company, while landlords on the other hand lease office space over and over again.
Mysteries of leasing revealed!
In most cases, landlords hire a listing agent to help market the property and advise them. Do they have an unfair advantage? You bet they do! Landlords will always look for the highest possible rent for the longest possible guaranteed term.
Balance this unfair advantage by engaging the services of your own qualified tenant representative. This is a primary focus of our practice.
Many tenants think that by hiring a tenant representative they will end up having to pay more in rent. When it comes to negotiating for office space, a good tenant rep will not only save you money, but will also make sure you don’t make any critical mistakes in the leasing process. If you hire a tenant rep, the commission fee is split between the listing agent and the tenant rep.
For most companies, real estate is their second-largest expense after payroll, and every dollar saved on your lease goes directly to your bottom line. Selecting space for your organization – and successfully negotiating a lease you can live with – are complex, time-consuming tasks, full of potential pitfalls. The pitfalls only multiply if you undertake the process on your own
Hiring a tenant representative who acts on your behalf can eliminate many of the hassles in site selection and negotiation. It can prevent potentially disastrous missteps, and it can reduce the amount of time and attention that distracts you from the vital activities of running your company.
Contact us today for a free report on the 8 simple steps to a successful lease negotiation, and we’ll help you create a written plan, timeline and strategy for a successful lease negotiation.