Tenant Representatives: Why should I consider using one? (Part One)

Using Tenant Representatives to find commercial office space
Photo by Nastuh Abootalebi on Unsplash
Tenant Representative
Photo by Muhammad Faiz Zulkeflee on Unsplash

Your firm is considering its options of bringing employees back to the office or making changes to the current space being used. You’re pondering common questions: do we need less space, more space, or entirely new options? You’re concerned about how you will be able to visit and tour locations in the local area or locations that may require getting on a plane or traveling overnight. How will you get to know the markets and neighborhoods if you’re reluctant to travel or don’t have approval to travel to multiple locations? Should you consider a tenant representative?

Advantages of Hiring a Tenant Representative

Companies today face one dilemma after another when they need to update or change their current office space. Having a tenant representative that can provide you with market expertise, strategic advice, and negotiation skills can be an effective way to help navigate all the changes that keep coming down the proverbial pike.

Competition for space has been reduced. Most tenants are waiting this market out. While some are unwilling to travel, have health concerns or don’t have the ability to make long-term business decisions. There are fewer tenants looking for space right now and that means landlords are hungry. Having a tenant representative that knows the market, communicates with the landlord directly and has expert negation skills can help save money when you have found space that suites your needs.