Why Retain An Agent
Why should you retain an agent when you can find a property yourself? Allow us to provide some free advice.
Unlike buying a house which is fairly impulsive and based on what you like and what is broadly in your budget, there are many more things to consider when dealing with commercial property.
On a house you will have a fairly good idea of the values in an area and what you are prepared to pay for a certain location or amenities. You will generally be buying a freehold or understand that you will have to pay a service charge on a flat or where there are common services.
When it comes to leasing or buying an office, there are many more things to consider:
- How good is the space you are looking at?
- What condition are the services in? What impact might the EPC have on you?
- How well is the building run?
- Does the refurbished specification meet your needs?
While rents are undoubtedly high in London there is a huge variation in rates and service charge costs as well as things that a might be included in that service charge or that should perhaps not be. Do not always discount a property just on rent, look at the overall cost and efficiency of any accommodation.
It is no longer just a place from which to run your business. Today, efficiency is key, well designed and properly configured office space can improve productivity, aid recruitment and increase the quality of work and productivity of your staff.
- Are you getting the floor area you are paying for?
- Has the entire area been fairly valued?
(At £40-£70.00 per sq ft it can make a big difference!)
You are also dealing with a lease agreement which in most instances will be a 50-75 page document detailing every nuance of the property. Whilst we would always like to believe that these are fair an reasonable documents, Landlords will always try and skew a few clauses in their favour such as the rent review clause & repairing liabilities.
Very few lawyers ever inspect buildings to know if the lease they have drafted or agreed truly reflects what is on the ground, that is down to the owner or their property manager and YOU. But what and where are the service media? What elements of the service charge should you be responsible for you? What are Latent and Inherent Defects?
- What sort of lease might get me the best terms, should I pay for flexibility in the form of a Break Clause? what does it mean if the lease is INSIDE or OUTSIDE the ACT?
As your Retained Agent we are there to act for you and guide you through these issues, working with your solicitor as part of your team to get the right lease terms for you.
Looking for the property, although difficult in the current market, is only a small part of the process. We start by actively marketing your requirements to our fellow agents & property owners carefully reviewing details & using our long garnered market knowledge to act as a filter before preparing a short list for you to consider.
Our experienced senior team know and understand buildings, their services and their pitfalls and are here to help you. We will help you prepare your “Landlords Pack” to present to prospective landlords and having retained an agent, your offer is likely to be taken more seriously, not only because we might have a particularly good relationship with another agent or firm but because they will know you are taking the move seriously. As active agents in the market place, we will know what properties might be “sticking” or get to hear of things before formal marketing. We charge a fee for this service which is our standard agency fee with our marketing costs and a minimum abortive fee to cover some of our time cost should you decide not to progress your search.