In most leasing and purchasing situations of commercial real estate, there are four main players:
1. Tenant (You)
2. Landlord (Them)
3. Leasing Broker (Individual who works for the Landlord’s best interest)
4. Tenant Representative (Individual who works for Tenant’s best interest – US!)
As someone who is looking to either lease or buy a commercial space, you may have begun to research available buildings on your own. It may seem easy at first, but as time goes on, your task becomes more daunting. What do these words mean? Which type of building is right for me and my company? What type of lease is the best? Which options best meet our budget for the short and long term?
Does this sound familiar? We are here to help!
Since the commercial real estate leasing and purchasing process is more complicated than at first glance, look for experienced representation that will help you at every turn.
Tenant brokers, like Rich Commercial Realty, look out for the interests of your company. Our brokers will help negotiate the terms and conditions of your lease, clarify any questions or concerns that you may harbor, and lower your overall costs. Best of all…the landlord will pay for our representation services at no additional cost.
Once a tenant representative is chosen, they can begin to help clarify issues most important to your company’s success and look for spaces that best meet criteria you establish. You specify the general location, length of time, size of the space, and amount of money you would like to spend on your new lease. The tenant representative will create a market survey based on your company specifications and help narrow the search until they have located the right space for you.
Gathering information, viewing office spaces, negotiating terms, and finalizing papers can take several months. In order to find the perfect space, allow approximately six (6) months to complete the entire leasing process before your tentative move-in date. Additional time should be allotted if renovations to the space are necessary to obtain the best terms for your continued growth and success.