Why is tenant representation important?
Tenant representation can be helpful in several ways when leasing commercial real estate. A tenant representative, also known as a tenant broker, can provide valuable market knowledge and insight, such as information on available properties, rental rates, and landlord concessions. They can also help negotiate more favorable lease terms, such as lower rent or more tenant improvement allowance.
Additionally, a tenant representative can act as a liaison between the tenant and landlord, helping to resolve any issues that may arise during the lease term. In summary, a tenant representative can help save time, money and hassle for tenant by providing knowledge, negotiation skills and acting as a mediator.
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