Tenant representation is not a luxury service. Most people renting commercial real estate need tenant of representation services. So, what is tenant representation? The term helps define tenant representation. It is a broker who works with renters and represents their interests.
What Is Tenant Representation and Why Do You Need It?
As a broker, a tenant representative has the knowledge and experience you need to help to find places, such as commercial buildings for rent OKC, office space for rent Tulsa, or retail space for lease OKC. They also help you renew the terms of your lease and ensure that you are being treated fairly by your landlord. Here are six reasons why you need tenant of representation.
Market Insight – Understanding the market is a full-time job. Brokers keep an eye on the changing trends in commercial real estate OKC, including commercial buildings for rent OKC, commercial garages for rent, retail space for lease OKC, warehouse for rent OKC. Most people, particularly those running a business, do not have the time or experience to stay up-to-date on the real estate market, which creates the risk of overpaying when negotiating a lease.
Resources – Commercial real estate brokers have their own resources to find commercial buildings for rent OKC. Along with databases of information, they might know about potential properties before they go on the market or how much a seller is willing to negotiate.
Know the Best Fit – A tenant representative takes the time to understand all the needs of a business, including a budget, before showing properties. By recognizing a client’s needs, they are able to find the best options for rental properties.
Priorities – If you define tenant representation as someone representing the needs of the renter, you expect to be a priority. They are legally obligated to support you rather than any landlord, even those they represent.
Negotiations – Why go through the hassle of negotiating a lease on your own when your tenant representative can do it for you? They leverage their knowledge of the market to get you the best possible terms for your lease.
Stay focused – Hiring a tenant representative means that you can continue to focus on growing your business. Why split your focus trying to navigate complex real estate questions? Stay on task and let someone else do the heavy lifting.
If you have any questions about tenant representative services, please feel free to contact us.
We are here to help make the rental process easier for you.