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Ba Israel Uncategorized What is Tenant Representation?

What is Tenant Representation?

A young couple consulting with a professional representative.

Tenant representation is often discussed in renting apartments and other residential properties, but whether the space you lease is to live in or run a business out of, it’s important to understand what representation for tenants is and how it works in both commercial and residential spheres. There are many benefits to having representation when negotiating with landlords, whether you are their tenant or shopping for space to lease. Read on to learn what tenant representation is and how it can help you navigate the real estate market.

 

What is Tenant Representation?

Tenant representation is having a real estate professional who works exclusively for tenants, which is distinct from real estate brokers who represent both tenants and landlords. Essentially, having a tenant representation broker is exactly what it sounds like it is: being represented by an expert in leases, real estate, and negotiating with landlords to further your interests and protect you from poor deals. 

The crutch of this question, what people mean when they ask it, is what a tenant representative does.

 

What is a Tenant Rep?

Sometimes referred to as tenant advisory, a tenant rep broker assists their clients through the leasing process, analyzing a space for your needs, and helping you determine whether you should take a space, leave it, or remain there. A tenant rep is distinct from a real estate agent or broker as a landlord’s agent represents only their interests, though may help you during a deal, they are beholden to their client. Tenant representatives do the same, but for tenants only. 

Earlier it was mentioned that it’s important to understand representation for tenants in the residential sphere, but if you’re looking for apartments or help in dealing with a landlord as a tenant in a home then a tenant representative isn’t the option for you. Representation for tenant experts focuses on commercial spaces, and while an apartment building is a commercial, they don’t usually assist in such things as helping people find an apartment. 

 

What Does Tenant Representation Services Consist Of?

When you hire a professional to be your representative, you’re being provided with market knowledge, someone to assist in negotiations, and a guide in dealing with potential landlords. Some of the services they provide include:

  • Getting landlords to return calls by virtue of their authoritative profession and the likelihood of having worked with that landlord before
  • Having access to office space and real estate not yet listed. Due to their connections in commercial real estate, they often get a heads-up from leasing brokers and landlords, get inside access from their industry connections, and have the most comprehensive listing databases. 
  • Your representative can help you determine if the space you’re interested in or that is available might not be the best option for you.
  • Provide assistance through the negotiating process. They can help you prioritize features that are essential to negotiate strategically, help explain elements of the contract to you and weigh in on whether you should accept or reject a deal with a landlord when an impasse is reached. 

 

Is Tenant Representation Good for Commercial Real Estate?

Landlords have an enormous advantage with real estate strategy and negotiating when you don’t have a representative. Even if you have a broker, there is usually a conflict of interest as they represent both the landlord and the tenant. That is probably the biggest advantage of hiring a tenant representative, being free of that conflict and knowing that the professional you’re listening to works only for you and your interests. 

Here at Goodale & Barbieri, we provide tenant representation to help our clients secure the right commercial space for their business. As one of the largest developers, property managers, and a leading real estate firm, we understand what to look for with tenants and the nuances of negotiating a lease, as well as the market. Since 1937 we’ve handled properties of all sorts and currently over 4 million square feet of commercial property. Discover more about working with experienced experts by following the link below.

 

To learn more about this topic, please check out G&B

 

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Mighty Dog Roofing is an excellent roofing contractor located at Plano, Texas for your home improvement projects because they know how important it is to ensure they do everything right. You can be assured that their knowledge will ensure that the task is completed in a timely and efficient manner. They’re also honest about their costs – there aren’t any surprise fees added to the bill. This means that you won’t be charged extra for the work once it is completed.

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Building Contractors – Master Builders of Homes, Buildings and Roads 

Building contractors, also called general contractors, are construction professionals who oversee the construction of houses, buildings, roads, and other structures. They make sure that the details of the contract are met as well as provide the manpower, materials and means to have the structure built by contracting other individuals and companies.

 

Duties of Professional Building Contractors 

A professional builder is someone who is in charge of building the structure, whether it’s a residence or one that is employed for business use. They are accountable for a variety of obligations and responsibilities.

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Building Contractor FAQs

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The qualities you want in a contractor include:

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– Lots of experience in the building industry

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– Competitive prices

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2. Do I need stock plans?

An experienced contractor can work with the plans you bring in, or can request his own professional staff to design a home around your criteria. The choice should be yours, not the contractor’s.

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It is impossible to set a base price for any home building or custom remodeling project. While an estimate can be provided, these prices are not written in stone.

4. How long will a project last?

It is impossible to set an accurate end date, because it is not possible to foresee problems. Most projects have snags, such as delays in the delivery of materials, bad weather conditions, etc. Your contractor should be honest about this issue and make it clear to you that he can only give you an estimated date of completion.

 

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