What to Consider When Hiring a Tenant Representative
A commercial real estate agent can represent either the landlord or the tenant. A tenant representative helps to ensure that you as the tenant find a commercial property that best suits your business needs. A tenant representative can help you not only look for properties, but also negotiate a reasonable lease agreement with your landlord. If you are looking to find a commercial property for your business, here are four tips for finding the perfect tenant representative.
Reputation & Resources
Before creating a list of potential tenant representatives, do some research to ensure that they have a good reputation in their industry. Reviews and client testimonials can often be found online and can give you insight into the quality of a commercial real estate firm.
A good tenant representative will also have the proper resources necessary to assist you. This includes access to special listing sites, mapping software, and efficient market research.
Experience Level
Longevity is only a small part of the experience level. While the amount of time a potential tenant representative has been in the industry is an important thing to consider, the numbers and results are more important.
You want to inquire about the work that agent has done within the past couple of years to make sure they’ve kept a consistent clientele base. With experience comes knowledge, so don’t hesitate to ask about their knowledge within the industry.
Industry Specialties
There are three main types of commercial properties: retail, industrial, and office. Some firms may specialize in one industry over the others. If you are looking to open an apparel store, you might look for an agent that focuses on retail properties. For a warehouse space, you want to find an agent that has knowledge of industrial properties.
Newspace Commercial has expertise in all three types of commercial properties, possessing the knowledge necessary to ensure you find the best property for your business.
Additional Services
A quality tenant representative will provide services that further assist you in setting up your business, as finding the right space is only the first step of your journey. Some firms will offer project management teams that can guide you in the best ways to build out your business space.
When leasing a commercial property that requires renovations, a project manager is crucial in ensuring that things are done efficiently and meet local property codes. Tenant representatives can also connect you with contractors and consultants that will assist you in furniture selection, IT infrastructure, and overall workplace strategy.
Think of your tenant representative as one of your business consultants. Rather than a one-time interaction, you should be able to utilize their services as your business expands.
Want to Find an Ideal Location for Your Growing Maryland Company?
Want to find an ideal location for your growing Maryland company? At Newspace Commercial, we fully represent the tenant looking to find the perfect commercial space.
Born from AJ Properties, an Anne Arundel County based commercial real estate firm, Newspace Commercial is designed to focus solely on Tenant Representation services, ensuring that you find your perfect business space, avoid mistakes, and negotiate the best deal.
For more information, visit our website www.newspacecommercial.com. To contact us, give us a call at (410)-218-1372!
