Commercial Real Estate Book - Leasing Book Preview

around your office while building out the best use of space for the inside. All this lets you make the best move for your company while having time to focus on your actual business.

YOU NEED THEIR EXPERTISE IN NEGOTIATIONS

This is one of the most crucial situations with a tenant representative. Your broker is legally obligated to work in your best interests. This will eliminate mistakes, bad negotiations, and anything else that comes up. It’s important that negotiations are done professionally if you want to gain an advantage and a favorable lease. Leases are complex and so are their negotiations. The broker will explain each step of the process and inform you about each aspect of the lease. Plus, they’ll know the market inside and out, knowing what rates are good. Without a broker, you may only know a slice of the current market in your area. Negotiations are where their expertise shines through the most. They may even have an existing relationship with other landlords, so getting direct comparisons from current leases around the area is possible. In these negotiations, brokers also serve as a buffer between you and your landlord. It is much easier dealing with someone who does this professionally, than contacting your opposing party directly. There are many factors that get negotiated that I will touch on more later in the book. You need a professional to fight for the best deal on each of those factors for your company.

A BROKER HANDLES TENANT IMPROVEMENTS

Each future tenant creates a customized buildout for their office space. It is your broker’s job to negotiate for the budget that the landlord pays for this. Creating the most efficient layout and use

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