Frequent Asked Questions
Why have a broker represent you?
You may have leased space directly from a landlord before – but did you capture all you could – or only that which you’re somewhat familiar with? The average tenant negotiates a lease every 3 – 5 years. Most Landlords do that monthly. Your current or future landlord is not motivated by arguments of how great a tenant you are. They’re looking to maximize their investment – by maximizing what they can extract from you.
An experienced real estate broker has their finger on the pulse of market direction, competing availabilities, pricing nuances and landlord motivations, amongst a myriad of factors that can influence or inform your decision. That experience is invaluable as you seek to understand what's achievable, today. A broker improves your outcome by leveraging the market to provide qualified options, at no expense to you.
How are brokers paid?
Near all lease deals have a commission pool budgeted for the brokers involved in the transaction. The landlord funds this market driven commission pool as part of his Tenant pursuit costs. If the Tenant is not represented by a broker, the landlords listing agent generally claims the entire fee. If the tenant is represented, the listing agent shares this commission pool with the Tenants broker. Foregoing the leverage a Tenant rep broker could bring to your negotiation simply results in a larger commission for the Landlords agent, not a reduction in rent.
I have a great relationship with my Landlord - why involve a broker?
Our work can preserve a great Landlord relationship while also ensuring your lease terms are competitive. As an outside third party we remain objective and our focus is on having the landlord accept what the market will bare - not simply what they personally believe it to be. Without "qualified" alternate competing options - how can you be assured your landlord's claims are accurate?
I don't want to move - so why consider alternates?
When you consider alternates - your decision to remain in your current space is not only better informed but you’ll improve your outcome. Landlords are acutely aware of the disruption and costs that can accompany a move which reduces their competitiveness with renewing tenants. A “qualified” alternate - where competing landlords underwrite pertinent terms of your potential occupancy (including credit) in their space - has you evaluate the market and improves 'your' landlord's motivation to compete for your business. This allows you to confirm your original preference, or relocate if not.
I have a lease renewal right - so I'm set. Correct?
No. Typically a renewal right guarantees you the option to renew your lease for a stipulated timeframe - but the economic terms are still to be negotiated. How will you know if the rent and other impactful terms your landlord proposes are market related? Dupav Commercial can both advise on the desirability of the offered renewal terms and source alternates for comparison - so you can determine whether your renewal option is worth exercising.
When should I engage with Dupav Commercial?
While office size influences timing, we're ideally speaking 12 - 18 months prior to your lease expiring with the goal of being actively engaged on your preferences no less than 9 months before expiration. That said, your business priorities and your lease expiration may not align (acquisitions, growth or contraction) and we are always available to answer questions and guide with your decisions.
I have multiple offices statewide - can Dupav Commercial still improve my outcomes?
Yes. When executing on transactions for clients outside of our core market, Dupav Commercial extends its un-conflicted tenant advocacy by working with qualified like-minded Tenant-Only national brokerage firms who specialize in their individual markets. We remain your single point of contact so you need not duplicate any explanations of your organizations priorities or procedures.
Have additional questions? Let's connect.
