Running a business enterprise is not simple. Every other minute finds you occupied with either meetings, looking for new ideas or establishing a new business branch. As your business expands, you will definitely need new space, but due to your tight schedule, you will need a tenant representation personnel to look for you a new property elsewhere.
Who is a tenant rep?
Tenant reps are different from real estate agents. They don’t sell a property to you but rather offer you advice regarding the property available for lease, its price and everything else. Basically, they are researchers. They find for you a property according to your specifications. In comprehensive, some of their duties include:
Location analysis
A business entity whose client numbers are tumbling is an indication that it’s not situated in a good business are. Tenant representatives can analyze an area and tell you if it’s suitable for your business.
Floor plan efficiencies
If you own a business but you feel your floor space is not well utilized, you can call in a tenant rep to inspect it and provide you with pragmatic solutions.
Facility cost comparison
If your current rent is pretty high, a tenant rep can find an alternative commercial property with a fair rent for you. They can as well negotiate the rent on your behalf with the landlords.
Building condition analysis
Tenant representation ensures that you work in a safe environment. Tenant reps can go over your rented space and check if it’s worth to do the repairs or just to relocate. If the costs of repairs are high, the reps will advise you to shift to a better property and location.
Tenant representatives also come in handy if you are moving your business to a new country or state. You will have an easier time establishing your business since these advocates will do the complex work of finding the right property for you.