FISCHBACH TENANT REPRESENTATION

Using a tenant representative^? and office space rep like myself is a win/win. Well not exactly. In a typical game the tenant wins in at least four ways while the landlord wins in one.

Planning
Failure to quantify space needs is the most expensive mistake that tenants make. This is a very important point that a tenant rep can score for you.

What are the prospects for growth? What are storage and circulation^? needs? What sort of arrangement of personnel makes your business culture hum along most productively? Will there be lots of off-hours use of the space?

To implement this important task, I recently added Cornell-educated architect Tang Fang to our team. She is especially good with space utilization and as an integral and free part of our service, we now routinely program a client's current and future space requirements. Then, by planning in each property prospect, Tang and I can accurately verify and recommend which property works best.

Exclusive Representation
Unlike most so-called tenant reps, I provide you with exclusive representation. My firm does not work for landlords. My incentive is to show you situations that benefit you the most. I have no other commitment.

Commercial leasing expertise
When a landlord presents you with a 40+ page lease agreement, believe me, it was not written with your best interests at heart. I've experienced 100s of leases in my career and can come up with many advantageous changes that you and your lawyer should look at and act upon.

Save money
It's still a tenants' market and landlords are offering incentives, what I call "concessions baskets" to attract good tenants. Author Michael DiMasi in a recent article in the Tampa Bay Business Journal said: 

To fill empty space, many landlords are offering incentives that go beyond cutting the lease rate. Free rent^?, whether for one month or more, has become increasingly common.

Another example is a more generous allowance^? for tenant improvements. Landlords pay for improvements to get space ready for tenants up to a certain amount, say $10 per square foot. If the cost exceeds the allowance, the burden falls on the tenant to pay the difference.

By offering a bigger allowance, the landlord is shouldering more of the up-front cost.

I'm in the commercial leasing market day in and day out. I know what space is worth and so does your new landlord. I also know the size and shape of landlords' "concession baskets," those creative bundles of goodies like free-rent months and landlord property improvements that lower your occupancy cost^?. I know where to look and what to ask for. You will save money.

What about the landlord?
So you are wondering what's in it for the landlord? How does the landlord benefit from using a tenant representative? Surely he deserves something. After all, he's paying my tenant representative fee out of the leasing broker's commission.

Like any business person, landlords have a cost of business acquisition. Believe it or not, a tenant representative can lower those costs. How? by bringing the landlord pre-qualified prospects along with the experience to close the deal in the most efficient way.

Hence a typical game: Tenant 4, Landlord 1.