Outsourcing is "IN"!!
You need an expert to look out for your best interest.
Are you swamped with real estate worries, when what you really want is to focus on your business and your clients? Did you know that you can outsource the maze of leasing, renewals, CAM audits, and all of the other real estate needs of your company?
If you lease space, you probably only negotiate a lease agreement a handful of times. On the other hand, landlords and their agents are experts and do this every day. When it comes to dealing with you, the tenant, they have a definite advantage. How do you level the playing field? The savvy tenant will engage the services of their own qualified broker.
Real estate is usually one of your most expensive line items and has a direct impact your company's bottom line. You need an expert to look out for your best interest. That's where Tenant Real Estate Advisors (TREA) comes in.
With TREA, you can outsource your real estate department! Here's how we can help.
- Allow you to keep focused on your primary business and do what you do best.
- Help cut your occupancy costs. At TREA we've negotiated hundreds if not thousands of leases and will guide you through the process helping you avoid costly mistakes.
- Limit your financial exposure and avoid any “budget busters” that might come down the road (i.e. paying for a new roof, parking lot and other capital improvements).
- Negotiate from a position of strength. We have the market knowledge and experience that allow us to obtain the best deal for you.
- Provide a detailed financial analysis of your options and alternatives.
- Make sure you're not paying for space you don't have. It's amazing how landlords measure space.
- We'll be by your side for continued lease administration support, such as expansion, questions on lease terms and conditions (It's free to call us as opposed to your attorney!) After a lease is signed, most brokers cash their commission check and disappear until it's time for a renewal.
- Provide an annual CAM reimbursement review.
By using the services of a tenant representative, you have a chance to retain a market specialist that provides unbiased, professional representation and expertise at no direct cost to you. Let me tell you how that works.
Leasing fees are a line item on a landlord's budget and this is always paid to someone, whether you have representation or not. If you do retain a tenant rep, the budgeted fee is split between your representative and the landlords listing agent. There are no hidden or additional fees tacked onto your lease rate and you won't save anything by not having representation. If you choose not to be represented, the landlord's agent (or the landlord himself) pockets the entire fee.
In the case of lease renewals should you also engage the services of TREA? Absolutely! Without your own representation on a renewal, you are again at a big disadvantage (see “BROKERS WHO SERVE TWO MASTERS” in our last issue of ITRA Real Estate Strategies, available at www.tenrea.com/archives). With the current signs of a recession, landlords will be competing for your business, potentially causing rental rates to drop. Go into lease renewal negotiations armed with someone whose only interest is helping you achieve the best deal.
TREA will always be your advocate.
Savings to a TREA client on a recent lease renewal
- Reduction in rent over the renewal lease term..........$71,000
- Deleting some bad lease provisions..........$42,000
- As a condition, landlord to replace the leaky roof..........Priceless
If you have questions about your exact situation, we are happy to answer questions or help you find the right professional that can. Give us a call anytime @ (719) 634-9000.
866.799.8732 | 719.634.9000 (o) | 719.448.0500 (f)