What exactly is a Tenant Representative?
A Tenant Representative is a commercial real estate professional dedicated to providing tenants with all of the real estate knowledge necessary to make the most informed decision. By contrast, the landlord typically has a team of at least 5 professionals working in conjunction to increase your rent: attorney, property manager, broker, asset manager, architect, and accountant. We level the playing field by acting as your real estate department to save you both time and money.
What if I find the space on my own?
A lease is not just about finding space, it is about having the confidence to know that you are making the right decision for your business, with the most efficient and cost effective solution, and that you are not leaving money on the table. If you spot a space that you want to investigate, your advisor will contact the landlord agent and get the important details, making sure that all costs are disclosed and that you are comparing on an apples-to-apples basis with your other options. This is not a contest to see who can be the first to drive by a “For Lease” sign when it goes up. Rather, it is an analysis of all available options, a weighting of the pros and cons of each, and then a strategy to align those options with your objectives and get it completed on time and within budget, with no negative surprises.
Why shouldn’t we use (INSERT LARGE GLOBAL REAL ESTATE FIRM HERE)?
Virtually all institutional landlords employ very smart real estate and legal professionals with the same objective: get as much money from, and shift as much risk as possible to, the tenant. Coincidentally, these firms, most of whom earn 75% or more of their income from landlords, also happen to be the same firms that want to provide you with corporate services. They are often under pressure by their stockholders to increase revenue and, at the street broker level, are under pressure to keep existing and get more landlord assignments. This causes a significant conflict of interest and is why Avocat Group never represents any landlords or developers and never will. It also makes us less well known – you’ll never see our name in front of buildings for lease – although the reason that you know the names of the others is exactly the reason that you’ll want to consider someone else to represent your interests.
Can’t we just do it ourselves?
Calculate your expected monthly rent and multiply it by the probable length of your lease. Now ask yourself, “If I was involved in a lawsuit for this much money, would I represent myself?” The answer is probably “no”, because the other side would have very smart legal professionals build a case to take as much of that money from you as possible. Likewise, virtually all institutional landlords employ very smart real estate and legal professionals with the same objective: get as much money from, and shift as much risk as possible to, the tenant. So yes, you can represent yourself in either a lease or a lawsuit, although that may not be the most wise strategy.
Do most commercial real estate brokers represent tenants?
The key is to be absolutely certain that both the agent and their company only represent you, the TENANT. Most brokerage houses assist primarily landlords and attempt to represent tenants as a small part of their overall business, which obviously creates a conflict of interest. Our unique approach provides our clients with the utmost professionalism, availability, and responsiveness that cannot be found with a typical “full service” brokerage house. Our fee is typically the same no matter what building you decide to lease or purchase, and the landlord is not a potential customer that we are trying to impress. With that, we never have a reason to push you in a direction that would not be the most beneficial to you. We present all of the pertinent facts, good or bad, and then help you to make the most informed decision based upon your needs.
Do we need tenant representation if we plan to renew in place?
More than 75% of our clients renew their leases in place. It’s the landlord’s JOB to get the highest possible rents from tenants. And the low hanging fruit is not in attracting new tenants, it is capitalizing on the ones in place. You may think you want to stay and perhaps that really is the best option for you. However to get the best terms, you have to make a serious evaluation of relocation options. Search spaces, tour, meet with prospective landlords, do space plans, get construction estimates, issue formal Requests for Proposals, and prepare a fully loaded financial analysis. Only then will you know the true cost of a relocation. Only then can you weigh the true pros and cons. And only then will you be able to either negotiate a fair market renewal or decide that the advantages to move may outweigh disadvantages. It’s a lot of work. It is also what we will do for you.
What is the first step we can take?
The first step is just to call us. An initial consultation is free of charge, informative, and without obligation. Most importantly, we will share with you some of the strategies and lessons learned from completing thousands of lease and purchase transactions. Whatever you ultimately choose to do, you’ll be better informed about what to expect.
Can you help us in (INSERT YOUR CITY HERE)?
We’ve completed over 3,000 transactions across North America including all 50 states many times over, and 11 countries. Yes, we can help you in your city. Uncovering information on markets and properties, including landlord profiles and lease history, has been a core competency of ours since the 1980’s. Long before there was an internet, we developed information expertise.
Why Avocat Group?
First and foremost we specialize in the unbiased representation of law firm tenants and buyers, when most other companies represent both landlords/building owners and potential tenants. We have done so since 1984, completing thousands of leases and purchase transactions in all 50 states and 11 countries. Our team approach is focused on helping your business objectives and every assignment is planned with long-term client satisfaction in mind. Our CEO is a successful Stanford attorney and we’re structured more like a law firm than the typical real estate firm. We have and extensive history and long-term industry contacts, which results in resources and knowledge that others can’t offer.
What are Corporate Real Estate Services?
In commercial real estate, Corporate Services is the term used for management of the multi-location requirements of a corporate space user. These are not services for landlords, but instead business tenants (and/or they may also occupy their own buildings). We act as an extension of your own staff to save your firm both time and money by developing an overall portfolio plan and executing that strategy.
Can’t we just handle all our facility leases ourselves?
Every business has a core competency which allows them to get a higher return on capital than they would in a passive investment. You likely do your core competency very well because if you didn’t, you wouldn’t have much need to consider using a corporate services firm like ours.
We have spent over 25 years studying hundreds of companies and thousands of transactions to understand the nuances that lower long term costs, increase flexibility, reduce risk, and can be applied to meet your firm’s unique business objectives and considerations. We’ll help you to implement these strategies to give your firm an advantage over your competitors. It is our core competency.
Our requirements are simple. Why do we need representation?
A lease is not just about finding space, it is about having the confidence to know that you are making the right decision for your business, with the most efficient and cost effective solution, and that you are not leaving money on the table.
Just like the metaphor of the frog in a pan of water that is slowly heated to boiling, rent rates tend to increase gradually and consistently, independent of actual market terms and concessions, and over-payment may not be obvious. We’ll help to assure that you’re receiving the same incentives and advantages offered to new tenants, that the space is efficient, and negotiate in the subtle advantages that will give you flexibility and reduce risk. Your local managers are busy running their operations after all, so spending time to be proactive on their leases may not be the best use of their time.