Business owners and other professionals looking to lease office space in Calgary may be considering just looking for space and negotiating a lease on their own. While this is possible and can save the tenant money in the short-term, it also comes with its own fair share of risks. Unlike tenants, landlords spend every day negotiating lease contracts. This experience makes them more effective at drafting and negotiating lease agreements, and can leave tenants in a precarious position.
Below are three key reasons to consider using a real estate associate for your commercial real estate needs.
- Maximize Value
Leasing costs are often the largest annual expenditure for any company. So making the right real estate decision for your company is crucial. It’s not just about getting the lowest rental rate possible for your company, but also balancing other crucial considerations such as location, quality of space and making sure the space fulfills your financial operational needs.
Saving on commissions by going directly to the landlord may be a false economy. For example, you may be signing at a rate that is higher than where the market currently is, or there may be space in the market that suits your needs better but you simply don’t know about it.
A real estate associate will ensure you have all the relevant data needed to make an informed decision that will be the most beneficial to the company’s balance sheet and business plan. This includes the latest information on market conditions and trends, as well as complete analysis of the most recently completed deals for the locations being considered.
A skilled real estate associate will also strengthen your negotiating position with landlords by making them compete for your business. A competent real estate associate will provide the information and unbiased advice required to make the best accommodation decision for your company, and make you confident that your best interests are met.
- Save Time
Searching and negotiating for commercial office space is time consuming. An experienced and capable real estate associate will efficiently organize this process to minimize your time spent on real estate and maximize your time concentrating on your business.
The real estate associate will be your market researcher and financial analyst, using extensive data resources and daily marketplace contacts to ensure all properties that meet your needs are brought forward for your consideration. They will ensure that all information received is presented in an equitable “apples-to-apples” manner in a way you can understand, they will summarize the financial and non-financial information of your top choices and in the end, make the process as data-based and as efficient as possible.
- Minimize Disputes
Your real estate associate will serve as your lease negotiator. They will use their broad base of experience to anticipate problems and suggest the most creative and practical solution to any real estate requirement. They will also ensure you have lease clauses in the contract that will protect you against currently unforeseen circumstances and make sure you have contingency plans.
Are you looking for office space in Calgary? Bedrock Realty Advisors Inc. has been helping companies negotiate new office leases, subleases and lease renewals for 14 years. For more information or assistance negotiating your next commercial lease, learn more About Us or Contact Us.