Many new businesses, after achieving some initial success, find that their current office space simply doesn’t have the necessary room to accommodate their growth. CEOs or office administrators might decide to look for new office space that can provide ample room for future success.
However, it's tough to find a new office space that checks all the required boxes and that's affordable at the same time. That's why hiring a tenant representative is a great idea for any business looking to find new office space without being taken advantage of.
Challenges of Acquiring New Office Space
Acquiring a new office space can be much more difficult to acquire than you might initially think. For instance, Century City – one of the most desirable, premier business locations in the LA area – has around 10,000,000 ft.² of “Class A” office space. That sounds like a lot, but any space that opens up is always quickly taken by competing organizations.
Indeed, new office space needs to be grabbed quickly and decisively whenever possible. Furthermore, it’s tough for office administrators to really know whether a given office park or other space is a good fit for their organization.
To make matters worse, landlords know that many businesses are desperate to get high-value office space due to its rarity. They may hike up prices or perform other predatory practices just because they can. This makes it difficult for businesses on a budget to find adequate space to grow.
Not All Representatives Are Alike
Not all tenant representatives are alike. In fact, many current tenant representatives also represent landlords in the cases around Century City and other locations. These tenant representatives experience severe conflicts of interest, which could impact their work with your office or organization.
For instance, they may be hesitant to fight back against a landlord playing hardball with rent prices if they’re also working on a case for that same landlord. The Jeff Tabor Group, in contrast, only works for tenants, so you know that there’s never a conflict of interest. This illustrates why it’s important to choose tenant representation that fights only for you and that provides real value to your organization.
The Value That Tenant-Only Representation Brings
Tenant representatives offer experience and insight that can help companies find office space that’s perfect for their needs. These firms can specifically help with:
- Finding office space with the amenities you need
- Finding affordable office space
- Fighting back against predatory landlord practices
- Helping companies avoid unnecessary fees and charges
They will also work to make sure that your new office space is properly scalable so that your business can continue to grow and thrive as it takes on new employees and clients.
Ultimately, tenant representation is an important tool you should always leverage in your search for new, better office space than your current accommodations. Tenant representatives like the Jeff Tabor Group can help you find an excellent future home for your business without being forced to pay predatory fines or sky-high rent.
