A Business trying to rent space to operate out of should have representation. The Office Advisors specializes in tenant representation Services. We help businesses find and negotiate space. Whether this be any type of office, industrial, medical or even retail. The Atlanta commercial real estate market has many opportunities for a multitude of businesses. Having a firm on your side means many different things. A representative looking out for the needs of your business just makes good business sense. Visit our website to learn more about how we can help you achieve your Atlanta Commercial Real Estate goals.
Now if you have never worked with a tenant rep before then you’re in for a treat. Especially if you are hiring one of our Brokers at The Office Advisors. Brokers here are experts and all things Atlanta Commercial Real Estate. We drive the Market weekly and talk to landlords and tenants to understand what is going on. In the world of renting there are many nefarious characters. A broker on the landlord side is looking out for their interest. Is her her job is to make as much money for the owner of the property as possible. A tenant rep is there to make sure the business interest are represented when leasing space. The Office Advisors Ade many different Industries and leasing in negotiating their real estate. Furthermore having a broker frees you up to do what you do best, run your business. Check out our website to get in contact with us for your free no-obligation consultation.
What you need to lease space
Firstly you have to understand what it’s going to take in order for you to rent that space. Having a great idea is not typically enough for a landlord to even allow you to rent. There are many different nuances when it comes to leasing any type of Atlanta Commercial Real Estate space. The Office Advisors are Market experts and guiding our clients through the entire transaction. Landlords will require different things, but generally speaking the basics need to be met.
What Landlords want to know about your business
landlords are different depending on the size of the company for the individual ownership. There is not a standard lease that is required by the state of Georgia. However typical standards are required by landlords in order to meet requirements. Think about this. A landlord / owner of a building is a business in itself. Their job is to procure real estate in order to lease out portions of bad real estate. The leasing is how they make a profit and pay the bills. Likewise your job as a business owner is to make a profit and pay the bills. Owners of a certain property might not like certain industry types to lease two. This is completely legal and actually makes a lot of sense.
An office building owner does not want to rent to a manufacturing client. Not only will this cause an incongruity in cost planning for the building. It’ll create incongruity in probably upset tenants as well. When you have general office space these clients are in some type of sales or administrative work. Having a manufacturer in the building is too loud and will upset your other tenants.
Furthermore a landlord wants to make sure that when leasing to a new tenant they are able to pay the rent. Making sure that you are financially stable and have an actual business model in place is normal. This mitigates the owners risk of tying up the space, and also putting money into the building.
Why a business plan?
Now a lot of first-time business owners think just because they have a good idea means a landlord will rent to them. However this is not the case at all. Especially when dealing with Atlanta Commercial Real Estate owners. This city has been known for difficulty with landlords. Understanding how a business works is paramount for a landlord’s success.
Generally speaking a landlord will require a business plan from the owner. They want to make sure that you were organized enough in order to run and operate a business, as well as pay rent. Having a business plan is scary for a lot of individuals. Just because they have a great idea does not mean they know how to commit it to pen and paper. Here at The Office Advisors we love helping out our Atlanta Commercial Real Estate tenants. That is why we provide many free resources. Check out our website where you can download a free business plan template in order to get you ready for success.
Landlords will also want to dive into your financials. If you have never gone through a business transaction or in an Atlanta commercial real estate transaction this might seem weird. Some people are very guarded about their finances. Understandably so of course. However in the business industry before someone wants to do business with you,they want to make sure you are financially stable. proving to them that enough money is in the bank not only to operate a business, but pay rent as well. A landlord does not expect a new business to be profitable right away. However they want to make sure that you either have good credit and enough cash to pay the agreed-upon rental amounts. As well as pay your employees.
If you’re a first-time business owner get ready to have to share a lot. Insurance companies as well as business partners want to make sure you are financially secure. There is a lot of cost when starting a business. Some of those costs are not Apparent at first. Individuals generally believe that all they do is sign the lease and pay their base rent. This is not the case. Lots of other cost go into leasing in operating a business.
Now some of those cost might not be apparent from the get-go. A landlord is going to require you to have some type of insurance on the real estate. In the Atlanta commercial real estate market or insurance rates are generally good. However a landlord may require you to go above and beyond what is required by the state. We see this a lot to make sure that the cost is mitigated in case of an accident. When going through a build-out phase of an Atlanta Commercial Real Estate space insurance is required. Many times having to be paid for by the tenant. This is financially draining especially when they are not open for business. Having The Office Advisors on your side can help negotiate more favorable terms for you.
When you work with a broker at The Office Advisors rest assured that we have your interest in mind. Not only are we industry experts, but we work with them as well. Aligning yourself with other like-minded companies to aid our clients did the Atlanta commercial real estate transaction. On our website you can find some of our industry Partners. As well as many other resources. We offer a free business plan template and a look-book template. These are downloadable and easy for you to use. A look-book is a PowerPoint presentation with photos showcasing your business. Many retail landlords love these. It gives a visualization to the business.
Visit our website to learn more or call us today.404-594-3028
The Office Advisors is affiliated with Sellect Realty of Georgia. 404-594-3028