Often you may be dealing with them instead of the landlord. They represent the landlord’s best interest and are there to get the most profit from their client’s investment. They are also an expert in lease negotiations and are authorized to secure rental agreements, security deposits, and any other parts of the lease. They can be experienced in getting the best deals for their clients and winning negotiations. This is another reason that tenants should not represent themselves, as they would be at a huge disadvantage working against a landlord’s broker in lease negotiations. Just like tenant representatives, these brokers are paid a commission at the end of the deal out of the landlord’s pocket.
CO-BROKER
Sometimes, the landlord will sign agreements with a broker, who then will invite other brokers to view the space to expand his reach. He will then have to split the commission or pay some sort of finder’s fee if that broker brings in a tenant. It is very possible you may deal with a co-broker before you get to deal with the landlord and their actual broker. The co-broker will have little incentive to negotiate with you as they aren’t connected with the landlord and it would directly affect their commission. Get past them and speak to the landlord representative or the landlord.
TURN-KEY SPACE
This simply means that this is an office ready to move into at that very moment. There is no need for any buildouts and the square footage is fully ready for a tenant who needs the size specifications.
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