Should You Hire an Exclusive Tenant Representative
Regardless of the size of the business, doing the research to determine if a move is necessary will prove to be as important as regular business operations. While it can be said that the successful business has the knowledge to make his or her company succeed, there may be instances where outside help needed to allow for smoother transitions. In this case, the business owner should decide if it is feasible to retain the services of an exclusive tenant representative.
Do you need a tenant rep?
Some business owners might think the added expense of hiring somebody for research unnecessary, but there are advantages to keeping a tenant rep in touch.
Time. What time is spent away from the business while research on commercial real estate is done can be costly. An exclusive tenant representative takes the worry of searching for potential new locations and compiling comparison costs of offices and other facilities. This way, the business owner can concentrate on maintaining the success of his company.
Unbiased Results. In situations where relocation is a must, a tenant rep can provide detailed analysis of commercial property, leases, and other considerations with an unbiased eye. The goal of the tenant rep is the complete satisfaction of the business person, not the landlord. A reputable tenant rep will work to offer sound advice without the benefit of kickbacks from other parties.
Advocacy. If the business does not move, a tenant rep may be helpful in lease negotiations, inspecting the property for damage and repair and other tasks. Work flow remains uninterrupted.
Before you think about moving your business, think about whom to hire to help you get fair answers and fast results. An exclusive tenant representative can save you the aggravation of moving and haggling out a lease.
Related Tags: property, real estate, selling, commercial, lease, negotiations, tenant rep
Tim McEvoy operates Exclusive Tenant rep, a Virginia-based agency specializing in exclusive tenant representation for businesses and companies seeking to move to or with the greater Norfolk and Richmond area. Exclusive Tenant Rep serves companies by counseling business owners on lease negotiations, commercial property appraisal and inspections, and relocation solutions.
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