What should you expect from your Tenant Rep?
When considering leasing office space, as with most everything else in life, it helps to have a professional on your side. Whether you’re expanding or contracting your space in Bangkok, or looking to find a new location or facility for your business in Thailand or the region, an experienced, professional Tenant Representative, (AKA “Tenant Rep”) will help negotiate the best terms and conditions for you.
One of the biggest advantages of working with a tenant rep is that it frees you of the need to handle a task you’re probably relatively inexperienced with, and allows you to continue concentrating on your core business. Here are a few things you should expect your Tenant Rep to be able to do for you:
Let you focus on Business
Your tenant rep, should work with you and your organization to save money and time, while ensuring you’re getting exactly what you need insofar as your new lease is concerned.
At Koll, we have a proven record of saving literally millions of dollars for our clients. This calculation refers only to the actual monies saved by our success in negotiating better leases for them and not the untold millions saved by avoiding the wastage involved in having to allocate dedicated staff and resources to the task of dealing with the lease, instead of enabling them to continue focusing their energies on their core competencies.
Help you determine what you really need
A good tenant rep will work with you to determine your needs:
- How much space?
- How much flexibility?
- Do you need to store your documents in premium office space, or can some be stored in cheaper off-site locations?
A professional Tenant Representative should be able to look at your business and help you understand how much space you really need, and negotiate the appropriate amount – everything from your conference rooms to your guest parking spaces. Your landlord has a vested interest in ensuring you don’t maximize space efficiency or save money, but we do.
Significantly upgrade your location short listing
In many Asian cities, and especially here in Bangkok, some of the best properties and spaces never make it to accessible, English language listing sites. An experienced Tenant Representative should have intimate knowledge of their locales and be able to provide you with options you simply wouldn’t know existed otherwise.
We at Koll know Bangkok’s commercial property market like we know the back of our hand.
We not only continually have our ear to the ground but have, over the years worked to establish relationships with all the movers-and-shakers in the local scene. In Asian societies and particularly here in Thailand, were trust and respect are often far more important than capital, these relationships prove to be an invaluable asset, one we’ve successfully leveraged to our clients’ advantage time and again.
Act to create a bidding war on your behalf
Savvy Tenant Reps are able to negotiate effectively for their clients by pitting landlords against each other. Effectively they create a situation where the landlords’ advantage, insofar as knowledge of the market and their property, is leveraged to the benefit of the tenant, instead of used against them.
At Koll once we’ve short listed the possible list of locations, we routinely create a situation where the three to five property companies left in the bid are negotiating against one another for your business. We routinely have Bangkok property company landlords offering our clients concessions, incentives, and rent prices so below their market norm, they require us to keep them secret in fear of having their other tenants demanding the same!
Your Tenant Rep should take the pain away
Leave real estate to the professionals. Not only are you sure to find yourself in a superior location to any you could hope to find for yourself, but you’ll also be saving time, aggravation and lots and lots of money in the process.