Tenant Rep FAQ

A tenant rep is a person who helps prospective tenants or buyers locate suitable commercial office space and business support services. The tenant reps at OfficeSpaceAtlanta.com can provide you with sound analysis of real estate market conditions, inform you about space availability, and even negotiate commercial office space lease terms with a landlord.

Before you commit to renting a property, make sure that you have a tenant rep representing your interests. Landlords also hire brokers, called "leasing agents", to fill vacant space in their buildings, but these agents work for the landlord, not for you. They earn a commission from the landlord or building owner each time they get a tenant to sign a lease and occupy space.

The tenant reps at OfficeSpaceAtlanta.com don't work as exclusive leasing agents for one property or one landlord. When you hire our tenant reps, they work for you. Our tenant reps give you objective advice, since their commission are not directly tied to a particular property. In addition, working with a tenant rep lets a landlord know you're seriously looking at multiple leasing opportunities. This may make a landlord more competitive and willing to negotiate favorable lease terms. OfficeSpaceAtlanta.com has a history of helping clients find properties and experience negotiating lease terms, along with a proven track record of protecting tenants.

Why Consider Using a Tenant Rep from OfficeSpaceAtlanta.com?

Sophisticated tenants guarantee accountability by giving one rep the exclusive right to represent them.  Briefly, there are three basic reasons to do this:

  • The tenant rep can be totally objective in advising the tenant.  On the other hand, since non-exclusive brokers that represent a particular building only get paid if the deal is made at one building out of many, their advice may not be objective.

  • It signals to the landlords that the tenant is professionally represented, and that they will have to compete with others for the tenant's business.  Landlords' attitudes usually change as soon as they are contacted by the tenant's rep.

  • Non-exclusive brokers, both legally and practically, are sub-agents of the landlords.  The negotiating leverage, expertise and objectivity that you need in your relocation efforts can only be provided by an exclusive tenant rep, who is accountable solely to you.

  • The ‘effective’ rate a tenant pays is comprised of the ‘contract’ rate less a myriad of offsetting reductions (i.e., ‘concessions’ such as a period of full or partially abated rent, landlord provided tenant improvement allowance, fixturization period, reduced charges for covered parking, moving allowance, and many others). The failure to recognize and negotiate any of these concessions can, over the life of a typical lease, cost a business thousands of dollars in excess rent.

  • Tenants who understand the real estate business are represented by their own tenant rep.  It costs them nothing for the expertise and negotiating savvy provided by a professional tenant rep at OfficeSpaceAtlanta.com who is accountable solely to them.

  • We evaluate all available options for you within your geography of interest and present to you those which meet your criteria.  We are not partial to any particular landlords. Having said that, we do stay on top of those who give exemplary service and strive to ensure our clients receive “best in class” treatment. For example, if the tenant is interested in executive suites in Atlanta, our first recommendation would be Peachtree Offices because we know they provide best in class service.

  • One of the most costly mistakes that a tenant can make is to not focus on the improvement allowance that is provided by the Landlord. Most Landlord’s have what they call a “Work Letter.”  BEWARE!  What this means is they have a typical allowance that they will provide to every tenant that walks in the door. Chances are very good that the allowance that is provided in a work letter is far short of the actual cost of building the space or making improvements to suit your requirements. Never sign a lease until you have taken the process through actual pricing with the contractor who will be building the space. Once you know what the cost is you will know what types of allowances to request. OfficeSpaceAtlanta.com can make sure you get the best tenant allowance possible.

Can OfficeSpaceAtlanta.com Help Renegotiate Existing Leases?

Yes. Because lease renewal time is also 'decision' time, many business people retain me to help decide if they should remain in their current space or relocate. Many times, landlords offer better deals to new tenants. It becomes my job to learn what other leasing opportunities are available and use this knowledge to negotiate lower rates and other concessions. Consider these factors when renegotiating an existing lease:

  • The more time we have, the more bargaining we possess.  We urge you to contact us immediately for a confidential evaluation, assessment, and counsel.

  • When you have a need to expand, downsize, or re-negotiate financial terms for your business, it may be a good time to attempt to renegotiate your lease.  You may currently think you are paying too much rent, have too much space, or have not enough space to adequately grow your operations.

  • Another thing to consider, typically it is good to begin the process that gives you the maximum amount of time if you have to relocate and build out a new facility. If you wait too long (4-5 months prior to your lease expiration) you run the risk of going past the point of no return. You will loose your negotiating leverage and soon find yourself in a “take it or leave it” position.

  • Over time a tenant’s rent will increase. As tenants go further into their lease, the rent rate they are paying very often exceeds the rates being negotiated by others in the marketplace. Landlords know this and keep up with the trends. The smarter Landlords will even try to approach their tenants much earlier in an attempt to prevent them from leaving the building and renegotiate at terms much lower than the rates that the tenant is presently paying. Caution is needed to make sure once again that you hire a professional and trustworthy tenant rep broker to appropriately represent your interests.

  •  As strange as it may seem, some tenants will go out into the market on their own with an existing lease obligation thinking that the Landlord will let them out of their lease obligation. It is highly unlikely that even your best friend or brother-in-law will let you out of a lease obligation. Understand that you will have to deal with this obligation and find a solution prior to spending much time in searching for a new location. A good tenant rep can help you with advice that should clear the way.

  • If your Landlord is proactive, they will probably be in touch with you first. The first thing you should think of before entering discussions with them is to secure appropriate representation- someone who can level the negotiation playing field. There are thousands of dollars at risk!  Remember that your Landlord does this for a living and they are usually  pretty good at what they do.  In most cases, lease negotiation is not your forte, it would be advantageous for you to entrust the commercial real estate leasing negotiations to a professional at OfficeSpaceAtlanta.com

Contact OfficeSpaceAtlanta.com of fill out the find your office now form to learn more about our tenant rep services.