Searching for a new office space in Anne Arundel County, Maryland by yourself can be an overwhelming task. Here, you have a large area and submarkets with many suitable options. It’s enough to make your head spin–or to convince yourself that your current space is okay, even when it’s not.
One solution to alleviate this stress is to hire a tenant representative that knows the market. As their title implies, a tenant representative works for tenants, not landlords or specific buildings. As a result, they offer the most objective evaluations of office spaces and buildings, as they have no stake or interest in promoting one office over another. But just because they have no stake doesn’t mean they aren’t knowledgeable; they offer professional advice based on their in-depth market knowledge and experience, much like a full-time landlord would.
In fact, one advantage of working with a tenant representative is that they know how landlords think. They can also level the playing field during negotiations to ensure you aren’t being taken advantage of, especially in regard to unfamiliar and/or highly detailed lease clauses. And, best of all, they don’t charge you a fee for the service; a tenant representative will only get paid when your lease is finalized.
Other benefits of working with a tenant representative include…
- Getting a better deal. A tenant representative oversees deals everyday, so they can help you get the lowest lease rate and best terms possible, including more concessions, minimal hidden costs, and greater lease flexibility. They are by your side every step of the process to ensure that the landlord doesn’t try to pull a fast one on you.
- Curating all available properties. Free listing websites like LoopNet can help you get a feel for what kinds of office spaces are available in your area. However, not many of these websites are kept current. A representative will have access to a full listing of current properties and help you sift through which ones meet your needs and expectations.
- Confidentiality. Don’t want your office to know you’re planning moving? No problem. A tenant representative can keep your secret so your employees don’t start not-so-subtly dropping hints and (sometimes unhelpful) tips about where to move next.
- Saving time. Because you’re working with an expert, you’ll have more time to dedicate to your business than if you were undertaking this process on your own. Consider all the hours you would spend educating yourself on the market, finding a suitable space, negotiating the lease terms, etc. A tenant representative alleviates all of these pains and more.
- Understanding various details. A tenant representative understands the impact that certain amenities can have on an office purchase decision, including the office layout, location, on-site gym, cafeteria, private bathrooms versus shared bathrooms, etc.
- Assessing buildings. There are advantages and disadvantages to every space, including proper parking, square footage, and the environment of the office. A tenant representative will listen your wants and needs in order to pin down which buildings would be best for you.
- Utilizing contacts. If a representative ever needs assistance, they can consult with other industry professionals to maximize the deal and ensure your interests are always being protected.
- Powerful negotiation skills. As you may know, leasing a commercial office space is much more complicated than renting an apartment; negotiations are often lengthy and intense. A tenant representative will act as your advocate to ease the process.
Tenant Representation in Anne Arundel County
As you can see, the benefits to hiring a tenant representative are many and varied. If you’re looking for a painless process when hunting for a new office space, consider hiring a representative who will advocate on your behalf, act as a buffer during the negotiation process, and help you find the right office space for your business.
At Murphy Commercial Real Estate, we take pride in providing a level of personal service above and beyond the services offered by traditional commercial real estate firms. In addition to our vast portfolio of office spaces available for lease and purchase, we offer tenant representation services to those in need. For more information on how we can best help you, please reach out to us online or by calling 410-266-1113.