Searching for and finding the right commercial real estate for rent can be very time consuming and costly if you don't know what you are doing. You already have a lot on your plate running a business so the last thing you have time for is looking for commercial rentals on your own. That is why you should enlist the help of a tenant rep broker. They are invaluable when searching for commercial space and with the experience, tools, and relationships they have you will get the best possible deal. below are a few reasons why you should use a tenant rep broker:
1. Tenant Rep Brokers Can Help You Determine Your Needs
You might have a general idea of what you want when it comes to renting commercial space however how do you know for sure if a particular space is right for you? Tenant rep brokers have a lot of experience in leasing office, retail, and warehouse space and can help you figure out what you really need. They will ensure that you consider your current and future needs and find a balance between the two so you do not lease too much or too little space.
2. Tenant Rep Brokers Will Ensure You Don't Pay Too Much
Finding a great space is just one piece of the puzzle. You also need to ensure that you get a good deal. If you don't do leasing all year long how do you know if the deal you got is a good one? A good tenant rep broker will be experienced in the market and have years of experience which means they can tell you if a deal if good or overpriced. They also have relationships with landlords in town so they can negotiate on your behalf to get better terms and rental rates.
3. Not All Commercial Properties Are On Loopnet
Not every available space will be public knowledge. Some tenants might not be renewing their leases which mean their spaces will become available in 6-12 months. However you won't find that out until the space has already been leased up. Many times the best spaces are leased up long before they are advertised. Tenant rep brokers typically know about potentially available spaces long before they are advertised and BEFORE you will know about them.
4. Tenant Brokers Service Cost You Nothing
Having a tenant rep broker help you find space does not have a negative impact on the deal you get. If you tell a landlord that you are representing yourself and ask for the rental rate you will find that the rental rate is the same as the tenant rep broker told you it would be. There is absolutely no cost for you to hire a tenant representative as the landlords cover the cost. However they represent your best interests.
5. Commercial Real Estate Leasing Is Complex and Time Consuming
When leasing commercial real estate you will hear a bunch of complicated acronyms and terms. Not knowing what they mean can put you at a disadvantage when negotiating against a landlord our listing agent that does know. Tenant rep brokers can help educate you and take the mystery out of the process to ensure you understand and make the best decisions. Having a good commercial real estate tenant representative in your corner can help you save time and avoid costly mistakes.