For businesses new to the office leasing landscape, there may be some challenges in identifying the right type of office accommodation.
Understanding the different terminology around important aspects, such as incentives, gross vs. net rents, bank guarantees (security) etc. can be a little overwhelming.
The process of selecting a sole agent can be extremely beneficial to streamline the entire search process, ensuring that the delivery of information is accurate, measured and wholly relevant. Consulting with multiple leasing agents will only convolute the process and provide little in the way of benefit.
With over 150 buildings for lease in the Brisbane CBD, the task of finding the best space for you and your team often begins with the process of elimination. Whilst you could reach out to all the representatives of properties of interest, this would lead to a barrage of calls and a confusing line of communication. An unnecessary headache.
These include challenges such as:
- Differing communication lines from multiple agents with varying levels of information;
- Crossover of process details which can become convoluted;
- Double up on recommended properties; which,
- Creates difficulties in the introduction process to buildings with other leasing agents appointed.
Where possible, we would absolutely recommend working closely with an agent you trust to help narrow down a precise and accurate list of office spaces. A good leasing agent should be able to provide you with information on all active availabilities within the market, as well as a deep understanding of the prevailing market conditions at the time. Your solely appointed leasing agent can work as a sounding board for ideas as well as for an understanding of the market, commercial terms, and negotiation process.
We suggest the following steps for your process:
1. Review the Caden website for suitable office listing opportunities;
2. Understand your business requirements – how many workstations/offices do you require, is there a staff breakout area/kitchenette within the tenancy or will you need to share with other tenants on the floor, have you factored in your business future growth plans?
3. Request information relevant to your brief and request information on any other suitable recommendations;
4. Review your options and the responsiveness-to-service by each agent; and,
5. Narrow your service preference down to one (1) agent who can drive your requirements going forward.
After considering these five steps, this will allow you to search more effectively for the service entity you believe would best help execute your outcome.
Managing these aspects of the leasing process can become tiresome, confusing and time consuming if not handled appropriately and, therefore, we encourage the use of a singular agency to drive your requirements. The accuracy, clarity and transparency that can be resolved by following this strategy will facilitate making the process as smooth and as efficient as possible.