Why Tenant Representation?
A tenant rep is a licensed real estate professional who has developed expertise in commercial real estate leasing and represents tenants in tenant-landlord negotiations.
You can think of it like a buyers' agent. When you want to buy a house, you contact an agent who shows you listings, makes offers on your behalf and works with you through the closing. Similarly, when you want to lease office space or warehouse space, your tenant rep represents your interest as a tenant.
I, Peter Fischbach, have served as a tenant representative for over 40 years. I specialize in Tampa Bay's office space for lease and love bringing the tenant rep advantage to small businesses and rising entrepreneurs in our community.
How much does it cost?
In most cases, it costs the tenant nothing. I will be compensated from the commission that the landlord pays to his/her leasing broker. If the landlord is not using a broker, I will quote you a fee for the service.
What are the advantages for tenants Leasing commercial real estate?
Whether you looking for new space or contemplating renewing a lease, Peter can give you a broad overview of what kind of space is available in your market and price range and where. I offer traffic analysis as well as basic demographic studies to help you decide if you are in the right spot to service your customers.
It's still location, location, location.
You probably don't want yourself or your key people surfing Craig's List or local classifieds looking for available space. I do that work for you, based on thorough location analysis. With me you simply make appointments to see potential new space to lease.
Landlords negotiate their leases constantly. Tenants maybe once every five years. Landlords have the advantage. Except when an experienced Tenant Representative is involved. And legal issues are just the beginning. As Tenant Representatives, I will help you with issues that save you money and mistakes:
Free and abated rent
Favorable early termination options
Favorable renewable options
Plus the items mentioned above like terminating and expansion options and subletting rights can have a huge effect on your business some time in the future.
Eventually you will be presented with a lease. Modern leases are a maze of special jargon, alphabet soup and gotchas. The landlord wrote the lease. You need someone who can interpret, explain and negotiate items that can be very important to you over the life of the lease. Here are a few very important issues:
What the landlord is counting as rentable space to calculate rent
What is and what is not included in rent
How do the escalation clauses work?
Lease renewal/option language
Operating expense caps and exclusions
Termination and expansion options
Code compliance responsibilities
Air conditioning service hours
Common area maintenance
All of these and other points will be examined, one at a time, to assure that the tenant is getting the best deal possible when renting office space.