SMITH COMMERCIAL PROPERTY GROUP
FAQ (FREQUENTLY ASKED QUESTIONS)
Will the Landlord charge me a higher rate if I hire or use a Tenant Rep?
The simple answer to this is, no.
If that were the case, landlords would love to use tenant reps., because it would make their properties worth more.
(Higher rates = Higher Property Values = Happy Landlord).
We actually create competition for landlords. Picture 4-5 landlords fighting for your business. This is our job.
(Lower rate, better terms = Happy Tenant = Happy Tenant Rep.) Landlord is also happy, because there is a good tenant leasing his property.
If that were the case, landlords would love to use tenant reps., because it would make their properties worth more.
(Higher rates = Higher Property Values = Happy Landlord).
We actually create competition for landlords. Picture 4-5 landlords fighting for your business. This is our job.
(Lower rate, better terms = Happy Tenant = Happy Tenant Rep.) Landlord is also happy, because there is a good tenant leasing his property.
What is the role of an industrial real estate tenant representative?
An industrial tenant representative assists tenants in finding suitable industrial properties for their business needs.
They help negotiate lease terms, conduct market research, and advocate for the tenant’s best interests throughout the leasing process.
They help negotiate lease terms, conduct market research, and advocate for the tenant’s best interests throughout the leasing process.
Why should I use a tenant representative instead of searching for properties independently?
A tenant representative has specialized knowledge of the industrial real estate market and can provide valuable insights. They can help you identify the best properties, negotiate favorable lease terms, and ensure you make informed decisions that align with your business objectives.
How do tenant representatives get compensated?
Tenant representatives are typically compensated by the landlord or property owner through a commission-based structure. This means the landlord pays a commission to the tenant representative once the lease is signed.
What information should I provide to my tenant representative to find the right industrial property?
To assist your tenant representative effectively, share specific details about your business requirements, such as desired location, property size, budget, lease term, necessary amenities (loading docks, clear height, power capacity), and any unique needs related to your operations.
How do landlords handle property maintenance and repairs?
Landlords are responsible for maintaining the overall structure and essential systems of the property. Tenants are typically responsible for the upkeep of their leased space and any non-structural alterations.
What are the common lease terms for industrial properties?
Industrial leases often have longer terms compared to other commercial properties. Typical lease terms can range from 3 to 10 years or more, depending on the agreement between the landlord and tenant.
Should I use a commercial real estate agent to lease my industrial property?
Engaging a commercial real estate agent can be beneficial as they have a network of potential tenants and market expertise. They can help you find suitable tenants and negotiate lease agreements on your behalf.