If you rent any commercial real estate, you should consider commercial real estate tenant representation. Before moving forward, however, you should consider what tenant representation in Oklahoma involves and how it can benefit you.
Commercial Real Estate Tenant Representation
A tenant representation broker is a specialist who will work for you. A standard broker will work with both parties, which can cause conflict. Hiring tenant representation in Oklahoma protects your interests as the renter. A qualified representative will understand the market, your industry, and prevent you from making the wrong decision.
What Are Tenant Representation Services?
The complete answer to the question, “What is tenant representation?” must include the services a tenant representative provides. Here are a few ways you can expect assistance.
Relocate or Renew
When it comes to deciding whether you need to renew your lease or relocate, rely on your representative. Of course, you will probably want to stay if you are happy, but you might want your tenant representative to see what other options are available.
Find Your Space
If you are in the market for a property, a tenant representative is an excellent resource for you. They will complete a needs assessment to determine what your space should provide. They will also use their knowledge of the market to find properties that meet your requirements and show them to you.
The tenant representative will guide the rental process. This typically includes a request for proposal, letter of intent, and final negotiations. The representative’s knowledge of the property and the market gives an advantage when securing a property with favorable terms.
A tenant representative continues to provide support after you sign your lease. This is a crucial role that they play. They answer questions and assist you if it becomes necessary to expand, renovate, or sublease the property. They can also help ensure you are treated well if you have a difficult landlord.
Buying or Selling
Your tenant representative will not leave you if you are ready to purchase a property. Remember, they understand your needs and can assist you in finding the perfect property for your business. If it comes time to sell, they will help you with this process as well.
So, what are tenant representation services? They are services that ensure your organization has what it needs and is not taken advantage of while renting. If you have any questions about tenant representation, please feel free to contact us.