Using Tenant Representation
In an area with properties as expensive as Naples, tenant representation can often make the difference between your being able to afford a good space and being able to afford a great space. For many businesses relocating to finding suitable commercial or retail properties is a necessary chore. Most companies will only do it a few times so won’t be too familiar with the process, or particularly good at it. This leaves the advantage with the landlord, as they do it for a living.

A tenant representative will be able to act on the renters behalf and bring their own knowledge and experience to the table. They can not only bargain with the rent, but also ensure all the terms and conditions are fair, and that you are aware of them all.

The tenant representative can also do things like location analysis. Which is where they study your business and the proposed locations then analyze whether a particular location will offer any benefits, or cause any problems. They can also check zoning and land use rules, the state of the building, and other peripheral tasks to ensure that the property you lease is going to work in your favor.

An experienced rep will probably know many of the local landlords and agents in the area. Especially somewhere as close knit as Naples. Tenant representatives with a broad local knowledge, who have personal contacts in the area can bring a lot to the table on your behalf. Much business is done with personal contacts, so using someone who has them can only work in your favor. The rep should also have good negotiating skills, which can bring good results for those that use them. They will know average prices in the area and know if the rental price is fair or not. They should also be able to negotiate downwards if they think the rent too high. They will also be able to present examples to back up their claims. Property dealings of any kind are complicated and involves a lot of paperwork. Having a professional take care of most of it for you is a great way of making sure that everything goes smoothly and you don’t end up tying yourself into something you didn’t want to.

You may think this is an extra expense that you don’t need when looking at spending thousands of dollars on a new property. Chances are that you would be paying for it anyway, whether you use them or not. There is normally a 5-6% fee added on for agents fees, this is where any tenant representation would be paid from. If you don’t use one, the listings agent would keep the whole fee, rather than splitting it with the tenant rep.

If this is the case with your upcoming lease, the I strongly advise you to use one before you sign anything. They can save you far more than they cost.