When renting industrial space renters have the alternative of finding rental area on their own or engaging the help of a tenant representative to aid with the search. Searching for industrial space is a extremely time consuming process. If you are not acquainted with the market or do not have much deal experience you could wind up squandering a lots of time or possibly make contractual errors that cost you a great deal of cash later.
Misconceptions About Not Using An Representative
Many renters believe that by representing themselves in the search and negotiation process the landlord will give them a discount rate on the lease rate,nevertheless that is not the case. In fact,the landlord may increase the rate and offer less concessions knowing that the tenant is not experienced about present market conditions or the leasing process. Using a tenant representative does not have a unfavorable influence on the deal.
Also,a lot of renters do not understand that having a tenant representative does not cost them anything. When landlord’s buy buildings they develop renting commissions into the proforma. If the tenant does not have representation then the property managers pay their listing agent 100% of the lease commissions. If the tenant has representation then the landlord agent and tenant representative split the commission. Occupants do not need to pay tenant reps,nevertheless they get all the advantages of having one.
Advantages to Having a Tenant Representative – You Will Comprehend Your Needs Better
Seasoned tenant representatives