Office Space - getting the best deal
...over the term of the lease.
The facts are that most people rent office space only a few times during an entire business career. Conversely, Landlords lease office space for a living – time & time again. Furthermore, in most cases they will instruct a Commercial Property Agent to advise them, help them market the office property and get a tenant to occupy the office space on the most favourable terms for them. So, on the face of things, the landlord seems to have an unfair advantage! The only way to balance this is to engage the services of your own property agent that specialises in representing tenants.
A commercial property agent's main functions are to find you the most suitable office space & then negotiate the best financial terms on your behalf. Their role is likely to involve: identifying the right property for you, conducting viewings, advising on the suitability, providing cost analysis of preferred options, negotiating terms, liaising with solicitors, keeping you abreast with progress & monitoring the transaction until completion.
Your Agent will work with you on the following:
- Analyse & Define your Office Space Requirements
- Property Search & Viewing
- Detailed Cost Analysis on Short List
- Negotiation
- Getting the Deal Done
Thinking of not using a Commercial Property Agent? Ask yourself these questions:
- Do you have the time, skillset & expertise to take on this important role whilst also focusing on your existing workload and commitments?
- Do you have access to details of every office space that is on the market that might suit your needs? What about those that are "off market"?
- Do you know what is happening in your local office market? Do you have a thorough understanding of the market in terms of rents, lease lengths, terms and inducements being offered?
Not using a Commercial Property Agent means that you will most likely pay much more for your office space.
When it comes to finding the right office space – and then negotiating the best deal for you – there is no question that a good Property Agent will not only make sure you don’t make any critical mistakes but also save you money over the term of the lease.
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