When looking to lease commercial space, using tenant representation can be a great asset. Tenant representation has many benefits including broader access of current listings as well as exclusive representation to assist with legal help. Hiring someone to represent you as a tenant will help you get the place that you want at a great price. Read this post from our friends at SVN | Graham, Langlois, & Legendre, LLC to learn more about tenant representation.
If you are a tenant seeking to lease commercial space then you should always use Tenant Representation. Commercial real estate Brokers serve their clients in various capacities, and that includes representing the landlord/owner and the tenant as a Tenant Rep.
Oftentimes individuals who are seeking space to lease do not know when a Broker is representing a landlord’s interest and end up coming out on the losing end of a leasing transaction. In order to find the best possible space at the best possible price a tenant should always hire a Tenant Rep. To understand why, read below.
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Tenant Representation is Free
First things first, tenant representation doesn’t cost the tenant a dime. As owners of commercial property a landlord will always be responsible for paying commission on both sides of a leasing transaction. In common practice a commission fee is typically (i) calculated under the assumption it will be split between two brokers and (ii) built into the cost of the commercial space being leased.
In other words, a tenant is essentially already paying for the Tenant Rep fee whether they use one or not. So, a tenant may as well benefit from the service and always hire one.
Increased Access to Listings
As a tenant seeking commercial space to lease…