- Labor Market Analysis
- Transportation Costs
- Utility Coats And Availability
- Market Accessibility
1. Analyze your space needs: The tenant rep can assist you in calculating your actual need for space and determining your particular layout requirements. This can prevent you from wasting time on property negotiations that are not right for your organization. Most importantly, it can prevent you from leasing too much space. The landlord has no incentive to help you economize on space and save money.
2. Investigate all available properties: This involves more than scanning the available listing services. A professional tenant rep can identify a property that is not an obvious choice to meet your needs. This will result in lower rental rates and a better space.
3. Create competition for your business: A good tenant rep can create a competitive bidding process, and prevent you from being a “captive audience” to one developer. The optimal number of bidders is usually three. Even if there is one property that you and your representative agree is the best, creating a three-way competition will optimize your negotiating position. The result can be concessions and incentives that exceed the norm in the marketplace, such as free rent for several months or an allowance for tenant improvements.