If you are a small business looking for your new office space, to expand or relocate, you will understand the struggle of navigating the complex property market and related legislation. The commercial real estate market is constantly shifting – from tax implications to corporate mergers and acquisitions, all affecting your commercial property’s location, capital costs and space requirements.
It can be difficult to keep up with these changes if you are not experienced in this field and without buying some kind of consultancy, you’re really in the dark. If you try to gauge the market yourself, you run the risk of making a big financial mistake by overlooking something that a professional would have picked up on.
That is why you’ll need a commercial tenant advisory. Tenant advisors can guide you through the entire process, from market research finally getting you that site acquisition, to negotiating the best lease terms. Simply, they are the best option for finding you a suitable property where your business can flourish.
Corporate tenant advisory service process
After a corporate real estate consultation, the tenant representative’s process looks like this:
- Assessment – Assess your unique circumstances and requirements, and research the holistic commercial real estate market for you. The market is also examined with consideration given to the surrounding economy, landlord market and risks involved.
- Strategy – Viable strategies for your property requirements are presented after weighing in the aforementioned factors. These strategies will maximize commercial leverage whilst taking into consideration the challenges of clients, such as accommodating headcount growth without increasing costs, and developing long-term plans despite the fluctuating market.
- Decision – Objective recommendations are provided to aid your decision.
- Execute – Help you execute the agreed strategy to achieve the desired outcome. This will include tenant representation in negotiation with landowners, guidance with property documentation, site acquisition and much more.
Tenant advisory covers a range of different services. The services offered by corporate tenant advisors include, but are not limited to:
Commercial site acquisition – this is the sourcing of retail, office or industrial premises to lease. Corporate real estate consultancy will first establish your criteria to commence searching for both on and off market properties, and then begin inspecting their suitability.
These professionals can unearth off market options that will give you a distinct advantage over others. After narrowing it down to the most suitable option, they will negotiate the best lease terms and help in the lease documentation process.
- Landlord/lease disputes – No matter the nature of your dispute, corporate real estate consultants can assess relevant legislations to provide suitable objective advice to ensure both parties are satisfied with the outcome.
- Exit strategy – Each exit situation is unique, but the independent property advisory service will assess the circumstances surrounding your desire to exit the property lease. Once risk and legislations are assessed, appropriate strategies and recommendations are provided to ensure a satisfactory result.
- Lease portfolio review – A comprehensive list of administrative duties will be undertaken by tenant representation services. This includes rent reviews, options, budgeting and expense reviews in order to meet critical dates and financial situations.
Corporate tenant representation services like Barratt Jennings Partners offer a comprehensive list of services which can benefit businesses enormously. Not only is time, money and effort saved, the corporate real estate advisory will ensure that your business foundations are established on economically sound predictions.
It’s best to see them as not just a short-term contract advisor, but rather as a long term tenant mentor. This tenant mentor can really help you make the complex decisions that will be an integral part of your business growth for the foreseeable future.