What is a Tenant Representative?

1. As the title implies, a tenant rep represents the tenant’s side in a negotiation for a lease.
A good tenant's rep can also be the landlord's rep, but should do all of the following for the tenant's side of the table.
2. A real and ethical tenant rep will send the tenant an exhaustive list of all of the listings that might suit the tenant.
3. A tenant rep will show the tenant the properties they are interested in and help them to analyze the location for their particular business.
4. A good tenant rep will be knowledgeable about the community and its business needs, and if she/he is not, they will be honest about it and bring in professionals to assist the tenant in their decision making.
5. A tenant rep will be knowledgeable about the leasing market and will show the tenant comparable leasing situations that will help the tenant and the rep to determine a reasonable lease rate for the properties of interest.
6. A tenant rep will freely interpret the language of leasing to the tenant. Such as “what is a nnn lease?”
7. A tenant rep will draft a letter of intent outlining the tenant’s proposal to the landlord. The letter of intent is an industry standard way to begin negotiations on a leased space.
8. A tenant rep will put the tenant’s interests first and negotiate reasonably and fairly on behalf of the tenant.
9. A tenant rep will be familiar with leases and their language and help review the lease the tenant is expected to sign. Then the tenant rep will recommend that the tenant take the lease to their attorney for additional review.
10. A tenant rep will make referrals to reputable attorneys, inspectors and contractors.
11. A tenant rep is most often paid by the landlord with whom they negotiate the lease, but sometimes the tenant will negotiate a lease with a landlord who does not have agency representation of their own and in this case, the tenant will pay the rep’s fee.
12. Ideally the work a tenant rep does is governed by a contract into which both parties agree to work exclusively together to accomplish the tenant’s goals.