Frequently Asked Questions About Tenant Representation

Q:Why do I need tenant representation? A:A company can save time and money by hiring a tenant representation broker to handle its office space needs, just as it would if they hired a lawyer to help with legal matters, or an accountant to help with financial matters. As tenant representation brokers, we are also mitigating risk and negotiating flexibility into our transactions, which can be extremely valuable to a business. Q:Why Coughlin Commercial? A:Coughlin Commercial only represents tenants. Unlike other real estate companies, we never represent landlords, nor do we own or manage property. Consequently, your financial and business goals are all that matter to us. We are free to aggressively negotiate for savings and lease terms that will provide the greatest benefit to your company. Q:We don't want to move and intend to renew our lease. Why would we need Coughlin Commercial's help? A:Professional leasing agents negotiate the highest returns (higher rental rates and lower concessions) for their owners' investments in buildings. The key to a successful renewal negotiation is creating competition between your current landlord and surrounding landlords in the area. A tenant representative is experienced at running a very controlled and organized process resulting in a much better deal for tenants. Tenants need to have an experienced advisor providing the proper market research and negotiating skill that will create leverage for them. Coughlin Commercial specializes exclusively in tenant representation and can save you significant amounts of time and money on lease renewals. Coughlin Commercial is aware that you don't want to damage your relationship with the landlord. That's why we deal with every landlord in an aggressive, yet fair and professional manner. Q:When should I start looking for new office space? A:Many company real estate decision makers begin negotiations too late in the process and in result they lose position in strength. Landlords know that timing is tight and they will in most situations perceive weakness and demand their asking terms. In most cases, if you are seeking 1,500 – 5,000 SF you should begin seeking space 4 – 7 months before your lease expires; 5,000 – 15,000 SF 7 – 12 months; and any space over 15,000, SF 12 – 18 months before lease expiration.