How would you describe the ideal retail site for your business?

When looking for retail space in San Jose, California, size, rental rate, neighborhood, parking, and other site features come to mind. Sorting through buildings available for lease to find the best one for you could be a challenge. One way to make the task easier is to consult a tenant rep. Tenant Reps are licensed real estate professionals who act on your behalf and collect their fee from the landlord.

A tenant rep can help search all available buildings, select those that meet your needs, arrange tours for those you would like to visit, suggest landlord concession approaches, and prepare letter of intent offers for those you like. In addition, your tenant rep can limit occupancy costs, assist with the language involved in each paragraph of the lease agreement, and invite competing sites for a bidding contest, if necessary. The landlord’s agent has sworn his allegiance to act in the best interest of the landlord. Tenant reps provide unbiased advice to negotiate a favorable lease, in contrast to the advice you would get if you relied on the landlord’s agent for help.

Tenant reps help guide the business points that should be examined in the lease negotiation. These include the rental rate, lease term, extension options, renewal rights, lease guaranties, use and exclusivity clauses, construction and alteration terms, assignment and subletting agreements, insurance and indemnity clauses, and expansion space first right of refusal. Depending on the actual circumstances, there are many other issues that would likely trigger modification to lease language, which would enhance the tenant’s interests and limit costs during the leasehold period.

As tenant reps, we monitor the status of all buildings. We filter out those that do not meet your criteria and thus save you time. You also get assistance in another important area – tenant concessions from landlords. It is to the landlord’s benefit to induce you to select his or her space. Common tenant concessions are items like free rent, tenant improvement allowances, special signage, and special parking arrangements.

The goal of the tenant rep is to help you get the ideal retail space for your business on the best terms for you. As you may know, landlords are active in the commercial real estate market full-time and tend to have an advantage when dealing with a tenant alone. The tenant rep provides current real estate market knowledge to help level the playing field. You have a much better chance at getting a fair and balanced lease agreement with a tenant rep.

Current soft market conditions have created attractive opportunities for tenants. Asking rents are down substantially. There are many quality buildings available for lease. Tenant concessions are generous. A tenant should hire a licensed commercial real estate professional as tenant rep so that he or she can take advantage of these opportunities.

A tenant rep will save you time and money. You will end up in a better retail space on better terms for your business. In order to lease your ideal retail space, hire a tenant representative.

Author Bio: About the author Silicon Valley Land Company Don Kinney is a licensed real estate broker in California with over twenty years of commercial real estate experience. http://www.siliconvalleylandcompany.com.

Category: Advice
Keywords: Retail Space San Jose, Santa Clara, Sunnyvale, lease negotiation, lease renewal, site search, reduce