How Tenant Representation Benefits Business Owners like You

November 2022

What is Tenant Representation?

When it comes to finding the perfect commercial real estate space for your business, you want to make sure you have someone on your team who is looking out for your best interests. That’s where tenant representation comes in. A tenant representative is a real estate professional whose sole focus is representing the interests of tenants in the commercial leasing process.

Tenant reps help business owners and executives navigate the often-complex world of commercial real estate so they can find the perfect space for their business at the best possible price. Here’s a brief overview of tenant representation and a few reasons why having a tenant rep on your side can be a major advantage in the leasing process.

The Benefits of Tenant Representation

There are several reasons why working with a tenant representative is advantageous for businesses of all sizes.

For one, tenant reps are incredibly knowledgeable about the ins and outs of commercial real estate leasing—something that most business owners don’t have much experience with, or desire to engage in while they’re busy in the day-to-day operations of their business.

Tenant reps also have extensive experience negotiating leases on behalf of their clients. Because they’ve negotiated countless leases, they know exactly what to say (and what not to say) to get the best possible terms for their clients.

In addition, tenant representatives usually have strong relationships with landlords, other brokers, and property managers. This comes in handy for getting their clients access to off-market opportunities, and when it’s time to negotiate the lease.

Having a tenant representative on your side also gives you someone to lean on throughout the leasing process. From identifying appropriate properties, to negotiating your lease, and beyond, a good tenant rep will be there to offer advice and support every step of the way.

As a final benefit to working with a tenant representative, in nearly every case it costs business owners nothing! Landlords build leasing commissions into the budget for their real estate investments and are glad to pay their landlord representative and outside tenant representative brokers to avoid going through the lease negotiation and tenant vetting processes themselves. Tenant rep brokers are paid out of those commission funds in nearly every single instance.

Finding the Right Tenant Representative for Your Business

Now that you know the benefits of working with a tenant representative, it’s time to start searching for the right one to work with.

The best place to start is by asking for recommendations from other business owners in your industry or network. Once you have a few recommendations, schedule consultations with each of the tenant representatives on your list so you can get to know them better and determine whether they’re a good fit for your needs.

When meeting with potential tenant representatives, be sure to ask them about these key areas:

• Their experience representing businesses like yours
• Their understanding of the local market
• Their past successes in similar lease negotiations
• Their availability —make sure they’ll be able to give your property search the attention it deserves

Finding the right tenant representative using the above criteria will make your property search process more enjoyable and successful.

The right tenant rep broker will also understand that during the few months they spend working with you in the short-term, an important part of their role is matchmaking you with the right location, property management team, and landlord that will be your long-term home for at least 3-5 years, if not longer.

Gain an Advantage with Your Local Tenant Representative

When it comes time to find commercial real estate space for your business, it pays to have someone on your team who has your best interests at heart.

A tenant representative is a real estate professional who specializes in representing tenants in the leasing process—in other words, they’re experts in finding businesses like yours the perfect space at the best possible price.

If you’re looking for an advantage in the leasing process, working with a tenant representative is worth considering.

If you’re looking for tenant representation in the Central Florida market including Orlando, St. Cloud, Altamonte, Lake Nona, Maitland, and beyond, First Capital Property Group would be glad to help you in your search. Contact our brokerage department at 407.872.0177.