Tenant representation in Sydney is rarely thought of when businesses are on the lookout for a brand new premises. Real estate agents enjoy a stronghold on these procedures as companies will often leave the heavy lifting to these operations when they are on the lookout for a fresh office setting.
The important aspect to note about tenant representation services is that they are bodies who work equally well for buyers and sellers alike. A misconception has been established whereby these brands are seen to service the sellers only, yet enterprises large and small alike have the capacity to tap into their resources, knowledge, experience and expertise.
So why engage with one of these services? Here we will outline the reasons why they are such an asset when you are seeking clarification on the moving process.
Fighting Your Corner
The real estate agent and landlord have their own interests to worry about before your own. Bringing aboard a representative from one of the tenant representation services will give you the confidence and assurance that a party is fighting for you and your interests. Venturing alone on this endeavour will weaken your bargaining position.
Landlords are well known for ensuring they receive the maximum result from any transaction. Hiring one of the many tenant representation services that are on offer will ensure that you as a seller or buyer will have a party that will fight for the best return on investment (ROI) possible. These services do not have a tangible cost in a majority of cases as their payment is subsidised by the agent or landlord. Given their knowledge on the subject and the ability to give free and well-informed advice, the concern over cost is negligible.
Any lease that is signed will inherently have written clauses that protect the interests of the landlord. Tenant representation services will have the capacity to flag these and disclose them before pen is put to paper. The same will apply for common area maintenance (CAM) charges, rental rates and deciphering between rental square feet and usable square feet discrepancies.
What is the common rate for properties in the local area? How much should be charged per square inch for this premises? What other options are available in the surrounding location? These are questions that tenant representation services have qualified answers to from their own research, an asset that will provide a stronger bargaining position when entering discussions with landlords and agents.
Understanding Goals and Objectives
A real estate agent is thinking about the lease agreement to be signed today. When can you put pen to paper? When can you move in and be a tenant of the property? Tenant representation services take their expertise beyond the short-term transaction to discuss what your personal objectives are for a lease.
What is the size of your company and do you have plans on expansion? Perhaps you have a potential merger in mind and there needs to be space considerations. These are not questions that a general agent will have any interest in, but it is advice and strategy that is worthwhile of your time even if you believe you do not require it initially.
There is too much at stake for a business not to engage with tenant representation services. The location and space of your operation speaks volumes about your professionalism and capabilities of the company. Should you find the right brand that caters to the market of tenant representation services, then you will encounter far less hurdles logistically and financially. Many companies before have suffered at the hands of overzealous agents and landlords, so it is worthwhile finding representation that eliminates that possibility.