Why use a real estate lease advisor?

Use a real estate lease advisor especially for lease renewals!The biggest mistake in my opinion (and you can say I’m biased because I probably am) is trying to negotiate your own lease.

I can tell you how to do it but an experienced professional buyer broker will save you both time and money because basically he knows what he's doing.

In my experience, any fees or commissions you save (and how will you know) is easily outpaced by increased rental savings and business protection you get when you use a real estate lease advisor

Many tenants of all sizes approach lease negotiation especially if it’s a renewal with the attitude, “I’m good at negotiating, so I can negotiate an excellent deal for my company.”

You likely don’t do your own accounting or legal work. When you use a real estate lease advisor who has hands on knowledge gained over many years and is a professional negotiator you get the best representation.

Why shouldn't you do it yourself? Your opponent the average building leasing agent negotiates 30 to 50 lease transactions a year. Don’t you think they may have learned a free tricks of the trade if they’ve negotiated 400 or 500 deals in their career.

Industry research shows that most leases are totally untouched except for rental rates and allowance. Most tenants only negotiated rental rates and allowances, ignoring fifty pages of hidden costs buried in every lease document.

Because most tenants usually negotiate one or two lease transactions in a lifetime and because they have no knowledge of how to read a lease (unless they are lawyers who specialize in real estate leasing), landlords always outfox them.

When you use a real estate lease advisor who has developed offer documents that specifically exclude clauses in the landlord's lease that can not only cost you money but can affect the profitability of your business and from experience he knows what you should get based on your negotiating clout.

These clauses can even prevent you from going out of business. Tenant Broker look at leases to determine not only what should not be in the lease but what should be added to the lease. This is where a Tenant Broker really excels and where self-negotiators really fall down. Many leases go untouched because of either self-negotiation, relying on the landlord's agent, or hiring an inexperienced broker.

I know, because as a lease auditor, I’ve examined many leases that I didn’t negotiate and I’m astounded at the hidden costs in even large tenant’s leases that I’ve routinely negotiated out of even small tenants leases. I can only assume that they used a landlords agent or that they had an inexperienced agent representing them. .

I’ll let you in on a little secret. As a former Landlords agent, we loved the self-negotiators. They never got as good a deal as those tenants who were represented by Tenant Brokers.

Tenants who are self negotiators and who do not use a real estate lease advisor almost always lose to landlords and their agents because commercial leases are so complicated and there are many, many ways to best a tenant. Even inexperienced brokers get bested by crafty landlords.

I remember when I worked for a big leasing broker when Joe one of the best of the breed of landlord agents boasted at our leasing meetings about what great deals he got for his landlord. And he really did get them great deals. He was leasing a building to mostly lawyers as it was next door to the courthouse. If a lawyer can’t get a decent deal, well then who can? Lawyers know leases but Joe knows leasing and he’s excellent at his job. The funny thing is I’m sure these lawyers went back to their partners thinking what a great deal they got from Joe. Life’s interesting that way.

Tenant Brokers know general market conditions and can provide information from multiple listing and other specialized databases to which only they have access. This, of course, is one of the primary reasons that a tenant will use a real estate lease advisor especially for lease renewals!

Tenant brokers can provide you with specialized financial reports that evaluate buildings on an apple to apple basis using discounted cash-flow analysis of the various differing rental rates, floor sizes, taxes, operating costs, parking costs and free rent packages and allowances offered by different landlords.

They can provide printed reports with a comparative side-by-side summary of both Cash Flow Projections and Discounted Cash Flow Tables for each individual building or “what-if” scenario being evaluated. This takes away the considerable confusion most tenants find when comparing the alternative buildings and trying to figure out which is the best financial deal.

Many tenant brokers have an intimate familiarity with the lease negotiation process based on years of experience. They made many mistakes in their early years and you avoid these mistakes.

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