One of the decisions to make when leasing office space is whether or not to hire a leasing agent. Renting out a property requires plenty of work and a high level of commitment that a lot of property managers may not have. As a landlord, you cannot afford to lose prospects as you profit handsomely if a long-term lease comes to fruition. Because of this, you should do everything you can to secure tenants. If you are looking to lease office space, you must hire a good leasing agent to represent you. A great agent will handle all the headaches and downsides of renting for you. The following are the main benefits of hiring a leasing agent to handle your office space rental:
They are Knowledgeable About Real Estate Law
Proper lease creation and execution takes knowledge. A leasing agent possesses the license and experience to help you achieve this. Most of them have educational backgrounds in business or finance and have studied commercial real estate law to get the proper license. Aside from making legally tight leases, great agents can help you run your property while avoiding commercial real estate legal problems.
They Have Connections for Necessary Services
Usually, commercial buildings need expensive services. Great leasing agents for office space can obtain these services at a better price while ensuring quality work from contractors. They can connect you to providers of services such as HVAC, plumbing, construction, extermination, painting, security, janitorial, remodeling, and others.
They can Bring New Insight to your Strategies
As a landlord, you must provide what your tenants want in this competitive market. This can mean open-plan offices, fitness centers, and phone booths for private conversations. A reliable leasing agent can help you prepare your property for tenant showings. Because of their market knowledge and industry connections, they can know ahead of time what tenants want.
They Offer Credibility
A licensed agent has the credibility to rent your office space at a profitable rent without losing the deal to the tight competition. They know what your competitors are doing and at what price a deal can be secured.
In the commercial real estate market today, concessions usually come up in negotiations. You must be competitive without giving away what you deserve. A great agent can give you advice on the kinds of concessions including extra parking, free rent, increased security, and build-outs. The experience, credibility, and connections of a dependable leasing agent let you secure lucrative, long-term leases.