Five ways a tenant representative will add value to your business
Do you really need a tenant rep? Perhaps you consider yourself a good negotiator. Maybe you’re happy where you are. So how would you benefit from using a tenant rep?
Perhaps you consider yourself a good negotiator. Maybe you’re completely happy where you are and have a good relationship with your landlord. So how would you benefit from using a tenant representative?
Unless you’re able to commit full time to pursuing the optimum deal, and you’re fully aware of all the opportunities both in your market and within your current landlord relationship, you are likely miss out on savings and other incentives.
Here’s how a tenant representative can add real value to your business:
1. We’re about more than just finding you the perfect space
Tenant reps offer unbiased solutions customised to your needs and business outcomes. They will define space requirements, perform a location analysis, identify suitable alternatives, recommend appropriate occupancy solutions, manage ending your existing lease and negotiate commercial terms with landlords on your behalf. We do this for all transaction types, regardless of whether you’re staying, going or looking for more flexible alternatives.
2. Up-to-the-minute market research and technology
Our tenant reps have access to up-to-the-minute real estate data and insights to allow in-depth market analysis and forecasting to find the right property for your business. They not only have the research and negotiating skills to succeed, but access to technology that enables them to analyse hundreds of variables to narrow down your location choices. Even if you’re not considering moving, this ‘ammunition’ can increase your leverage in negotiating with your current landlord.
3. Access to off-market opportunities
Not all available space options can be found online. Our tenant reps work closely with leasing agents and building owners across all the major firms and know what space has yet to hit the market.
4. Staying put? A tenant representative can ensure you get the best offer from your existing landlord
Did you know that renewal transactions are, by far, the most profitable for landlords? Even if you’re not going to market, a tenant rep help identify any potential levers you can pull that will compel your landlord to make their best offer to keep you in their building. This may include more competitive rental rates, a new fit out, upgraded base building elements or incentives.
5. The cost of good advice is very little in comparison to the benefit
Tenant representatives will save you time, money and will mitigate risk. According to JLL research of global real estate market practices, a good tenant representative will save an average of five times the cost of their fee. We enable you to focus on your core business whilst we focus on your real estate.
It’s easy to underestimate just how much is involved in finding the perfect office space for your business. A tenant representative will not only find you the perfect space, but also negotiate the best possible lease agreement for your business.