What tenant representation is
Tenant representation is advisory work done on behalf of the occupier. The advisor helps define the requirement, surveys the market, shortlists buildings, runs the negotiation and coordinates the paperwork until the space is handed over. The aim is a better decision and better terms for the tenant.
The scope of work
A full mandate usually covers:
- Brief: headcount, budget, timing, location and specification.
- Market survey: available space, asking terms and building quality.
- Shortlist and site visits, with a building-level view on each option.
- Financial comparison of offers on total cost over the term.
- Negotiation of rent, escalation, rent-free, fit-out support, lock-in, exit and maintenance.
- Lease review with your lawyers, and support through registration and handover.
Why independence matters
A broker who is paid mainly by landlords, or who represents the building you end up in, may not give you a neutral view. Ask who the advisor also works for, which buildings they have mandates on, and how they will tell you if a conflict arises. An advisor with no stake in a particular building has no reason to steer you towards it.
How advisors are paid
Arrangements vary. Before you engage anyone, agree in writing who pays, how the amount is calculated, when it falls due, and what happens if the deal does not complete. Compare proposals on scope as well as cost.
When it is worth hiring an advisor
The case is strongest when the lease is large, the market is unfamiliar, the timeline is tight, or several options need comparing. For a small, simple renewal you may only need targeted help on the lease terms.
Questions to ask before you hire
Ask the advisor:
- Which buildings or landlords do you also work for?
- Who will run my mandate day to day?
- How will you compare offers, and can I see a sample?
- What do you need from us, and what will you deliver and by when?
Frequently asked
Does a tenant representative work for the landlord?
A true tenant representative works for the occupier. Ask whether the advisor also acts for landlords or specific buildings, and how conflicts are handled.
Is tenant representation only for large occupiers?
No, but the value is clearest on larger, more complex or time-pressed requirements. Smaller occupiers can use advisors for specific tasks such as lease review or negotiation.
What should be in an advisory agreement?
The scope, the deliverables, who pays and when, how conflicts are disclosed, and what happens if the deal does not proceed.
Related: Leasing & Tenant Representation, Mumbai micro-markets, how we work.
