What is a Tenant Representative?
As the owner or leader of a company, you’re rather busy. You don’t think too much about your tenancy deal and most likely don’t make a habit of moving your business to a different location.
When you’re running a business there isn’t much opportunity to understand all the tenancy tips and traps.
But when the time comes to move, one thing you do know is you want the deal over and done with as efficiently and affordably as possible.
So when you’re not a commercial property expert, how do you really know you’re getting the best deal when you sign a lease with a landlord?
Whether renewing a lease or signing a new one, a tenant representative can advocate for you to ensure things work out in your best interests.
What Tenant Representatives Do
A tenant representative might also be called a tenant advocate.
Your representative serves as your advocate when it comes time to strike a deal with a landlord.
With your company’s best interests in mind, the broker helps you:
● Weigh the pros and cons of your situation
● Understand the property market
● Stay updated on the latest laws, benefits, rates and lease terms
● Avoid making costly mistakes
● Advise incentives available in the market
● Negotiate with a landlord
● Defend your rights
What if you later decide to upsize, downsize, expand, invest or move again?
Even after the lease signing your representative will continue to be available for consultation. You will likely need more advice in the future as new problems, circumstances and opportunities arise.
Why You Need a Tenant Representative
Put simply, a tenant representative has the property experience and knowledge that you just don’t have the time to acquire.
Many business owners and leaders like to understand everything on their own and rely on personal experience and internal resources to make a decision. And there’s nothing wrong with that. But chances are good that as long as you have a business to worry about, you will not have the time to fully understand every aspect you need to.
A tenant representative isn’t taking the decision-making power away from you. A tenant representative puts more power back in your hands.
Your representative will read the fine print and help you to understand what it means for your business, empowering you to make the best possible decisions.
Interested to find out how a tenant representative may be able to help you?
Contact Broadway Property for a free, no obligations discussion about your needs.
- Ryan Stewart, Director, Broadway Property