Whether you’re looking to renew your office lease, or looking for somewhere completely new, you might be surprised to learn how valuable a tenant rep broker can be for you. Personalized tenant representation allows you to feel confident you’re getting invaluable market insight from someone with your best interests in mind. Due to their expertise in the industry, they can leverage their insights to negotiate better terms, ensuring you get the best deal possible. Read on to learn more about why you should hire an orange county tenant rep broker for your next office space lease.
1. Invaluable Market Insight
While you probably have time to browse through office space listings, chances are you don’t have the free time to analyse the data. Because office tenant rep brokers do this day in and day out, they have access to ample information about the market, how far your dollar should go in the current conditions, and how much you can ask for in a rental contract. This insight can save you money, allow you to get extras thrown in for free, and ensure that you’re getting a good deal.
2. Creating Leverage
This applies to all rental agreements, but I find it to be even more relevant when you’re looking to extend your lease. If your landlord is confident that you’re going to extend, they might be unlikely to allow certain concessions to sweeten the deal. But the reality is tenant retention is something that most landlords are prepared to offer a lot to ensure. Having a tenant that pays rent on time, takes care of your property and is trustworthy is very valuable. Lost income due to the property being listed again on the market as well as the costs of refilling the property can cost a landlord months and months of earnings. A tenant rep broker will know the best way to bring this up to the landlord to ask for more concessions, which can make a considerable difference for your business’ running costs.
3. Negotiating the Best Terms
It’s literally a tenant rep broker’s job to get the best for, you, their client. They do this every day, meaning they know what things they can likely get thrown in to sweeten the deal. If you’re not used to negotiating lease contracts, then chances are you’re not going to get the best deal possible. Depending on the site of your rental contract, skimming even 5% of the cost could result in thousands of dollars saved each year.
4. Your Best Interests in Mind
I’m sure you wouldn’t create a will without consulting a lawyer, and for me signing a office lease is along the same lines. You can have an expert with years of experience to help guide you through the process and ensure all your ducks are in a row. Because a tenant agreement is a legal document, you’re going to want to make sure that it serves you well and doesn’t have any tricky hidden clauses.
Hiring a tenant rep broker for your next office space lease can give you a peace of mind you wont be able to get elsewhere, while ensuring you’re getting the best deal possible.