Will Technology Ever Make Tenant Representation Obsolete?
This question is being asked by a number of Lessees in the current real estate market and one question that seriously needs a discussion before time and money spent becomes a waste of those resources.
To answer this question, one needs to sufficiently define what a Tenant Representative does or more so, what Tenant Representative Services allow.
Simply, a Tenant Representative is an advocate and/or consultant of whom is working for and on behalf of the Lessee exclusively.The main Tenant Representative services include:
- Market research and analysis
- Lease negotiation between parties, moreso parties to a Commercial lease, namely real estate agents, Landlords and even existing Lessees
- Renewal negotiations, simply the taking up of an option period at a current market rental level
- Make good negotiations under the lease
- Exit advice, if your business plan does not work
- Restructuring existing lease agreements and Lessee requirements
- Site identification and evaluation of relocation options
- Rent review representation
- Pre-lease due diligence
- Dispute resolution
- Lease assignment and sub leasing advice