Austin Tenant Advisors Helps Businesses Find Best Restaurant Space for Lease and Negotiate the Best Deal
October 28, 2022 at 23:20
Austin, Texas -
Austin Tenant Advisors, a commercial space rental company based in Austin, TX, wants to inform restaurant business owners and managers that they offer a service where they help find a restaurant space for rent in the City of Austin and neighboring areas. In addition to finding the best restaurant space for lease Austin TX businesses can also expect them to help in negotiating with the listing agent or landlord to get the best deal possible. Looking for restaurant space for lease is similar to finding retail space for rent although there are a few subtle differences to take into account. For those who have no or little experience in leasing restaurant space, or just not familiar with the Austin, Tx metro area, it would be advisable to get the services of an experienced real estate advisor to act as guide throughout the process.
Nathan Smith, owner of Austin Tenant Advisors, says, “It's important that you know and understand the difference between the lease commencement date and the rent commencement date. The lease commencement date is the date that the lease is signed. Rent commencement is when the first month’s rent is due. When negotiating a restaurant lease it's important that you give yourself enough time to build out the space, get your certificate of occupancy, and open for business before you have to start paying rent.”
There are also many other things to consider, such as the restaurant space operating expenses, a possible exclusive clause in the lease, assignment and sublease clauses, and space delivery. Oftentimes, restaurant space tenants will need to pay their pro rata share of the operating expenses if it is a multi-tenant building. If it is a single tenant building, they will be paying 100 percent of the operating costs. Operating expenses are usually considered as “additional rent” and included as charges like insurance, property taxes, and common area maintenance. And if the commercial space is in a shopping center and the like, it is also advisable to get an exclusive clause in the lease that will prevent the landlord from leasing other nearby spaces to other restaurant businesses. It is also a good idea to have the ability to sublease or assign the remaining lease term in case the business didn’t work as expected. And lastly, it is a good idea to have it in writing as to how and in what condition the landlord will deliver the restaurant space.
It is important to note that the service provided by Austin Tenant Advisors to those looking for restaurant space is for free. And they only represent tenants, never the landlords, which means tenants will have someone representing their best interests. The agents hired by landlords will be on the lookout for their best interests and will therefore want to offer the fewest concessions possible. These landlord agents have extensive experience in negotiating lease agreements, and they will likely have the upper hand in the negotiating table without a tenant’s advocate like the Austin Tenant Advisors assisting the would-be tenant.
Nathan Smith says, “Our only focus is tenant representation. We only represent the needs & best interests of the tenant. Landlord agents have a fiduciary duty to represent the best interests of building owners. Of course, they will be nice and professional with you, however, at the end of the day their job is to help the landlords negotiate the fewest concessions and the highest lease rates possible.”
Started in 2006, Austin Tenant Advisors is a commercial real estate company that assists business owners and companies in looking for the most suitable commercial space for their specific needs at the best possible rate. They can also help in negotiating the lease agreement, including rental rates for retail space, office space, and warehouse space. Austin Tenant Advisors will provide a service that includes conducting a search in the commercial listings, the booking of visits to the potential commercial spaces for lease, and then negotiating with the landlords and listing agents. They also provide the client with info regarding to the Austin market that that they will not likely get from landlords or listing agents.
When in need of Austin retail space, business owners or managers can visit the Austin Tenant Advisors website or contact them through the phone or by email. They are open from 7:00 am to 6:00 pm, from Monday to Friday.
For more information about Austin Tenant Advisors, contact the company here:
Austin Tenant Advisors
Nathan K Smith
1300 Guadalupe St #250
Austin, Tx 78701