When you work in commercial real estate as a leasing specialist, you can provide extra lease negotiation services as an exclusive and professional service. It may be that some of your clients that own and manage a property themselves will require specialized assistance when it comes to particular lease matters.
Most self-managing clients and landlords do not have the mechanism or the market intelligence to complete a successful lease negotiation. They can utilise the services of their solicitor when it comes to the documentation, however they do not have the market intelligence and the evidence of other rentals from other properties. That is where you can provide expert and specialized extra leasing services. You can market yourself to those property owners in this specialized way.
It is quite normal to be asked to find a new tenant for vacant premises. We can however provide many other leasing specialized services to those clients given the other situations that arise in commercial and retail property leasing.
Here are some other factors that can be built into your agency services when it comes to leasing.
- Lease renewals can be quite challenging for many property owners. They simply do not have the necessary market knowledge to set a satisfactory market rental at renewal time. You can provide that lease renewal service as a specialized leasing expert. The renewal of lease would be undertaken with the existing sitting tenant.
- The restructuring of the lease occupancy and tenancy can be required for a number of reasons. It may be that the tenant is expanding or contracting when it comes to occupied space. They may also be required to relocate. All of these circumstances will require expert negotiation and lease restructuring. The local market knowledge that you can bring to the transaction will be invaluable and help the landlord achieve an appropriate lease package and rental return.
- Lease disputes and protracted market rental negotiations can be difficult. Local expert knowledge with regard to rental trends and market evidence will be very valuable in resolving these types of lease challenges. You can set a fee to assist your clients with resolving these special types of lease negotiations.
- In the normal course of lease occupancy and eventually termination, there will be circumstances requiring local market information and experience. They can be situations relating to rent reviews, options, and make good at end of lease. As lease experts, we can provide the greater level of support to our clients in such circumstances.
- When it comes to an owner managed property, the property owner may have no understanding when it comes to the establishment of a tenant mix in an investment property. They may also have little understanding of the structure and establishment of the required tenant retention plans. These retention plans can give the rental in the property some stability and minimize the vacancy factor over coming years. These are specialized services normally applied to quality properties and property owners with many tenancies. You can set a specific fee for these unique services to be provided.
These simple factors above are derived from normal lease occupancy and tenant activity. They can be specializing leasing services to be provided as part of your commercial real estate business.