Industrial tenant representation occurs when an industrial tenant is in search of a particular leasing space and needs an agency to represent them with the landlord and negotiate the best terms on their behalf. The tenant also seeks representation to obtain market information and negotiation skills equal to that of the landlord’s representation. In order to find the right space for the tenant, the real estate broker (industrial tenant representative) must know the size, inventory needs, and immediate availability of the tenant. If your business is looking to lease industrial real estate in Tampa, we have decoded all the crucial parts of industrial tenant representation.
It’s Free for You
Industrial Tenant Representatives are knowledgeable in the local real estate market. They have relationships with fellow brokers, owners, and other real estate professionals to match your company’s needs. They can even find out about spaces not yet on the market. Their services are free; a common misconception is that the benefits of working with a commercial broker are offset by the cost. Tenants are not responsible for paying industrial tenant representatives for their services because these costs are covered by the landlord. The tenant representative’s pay comes from the commission, which is split with the listing agent.
What Can They Do for You?
An industrial tenant representative understands how to create leverage based on market conditions and tenant needs. They also have a solid reputation with building owners and leasing teams. The best tenant representatives will know your objectives, your industry, its competitors, and how you plan to utilize the facility.
Your Line of Defense at the Negotiation Table
They come prepared to give tenants more leasing power at the negotiating table. Tenants that address landlords without industrial tenant representation are at a disadvantage because landlords have been through the negotiation process numerous times and are well prepared to safeguard their own interests. Industrial tenant representation can also act as your first line of defense if issues arise with your landlord.
Leasing agreements are full of clauses and provisions that, together, dictate rent increases, and subleases. An industrial tenant representative will examine the lease carefully to make sure the leasing agreement reflects all prior communications and understandings with the landlord.
If your business is looking to lease Tampa industrial real estate, industrial tenant representation is beneficial for businesses of all industries and sizes. Contact us at 813.300.5266 or fill out a contact form for more information about Lamm Properties.