Tenant

In the case of expatriate companies taking a lease, the company is usually designated as the tenant whilst the employee is the occupant. On accessions landlords may grant a personal lease which allows an individual, as opposed to a corporation, to sign the tenancy agreement. The tenant is obliged to comply with all of his obligations under the lease, including the payment of rent and other charges.

Tenant representation

Arrangement whereby a prospective tenant engages a real estate agent as its exclusive agent in negotiating a lease for commercial space. Also know as a "buyer's broker."

Term

The length of your lease determines how aggressive a deal your agentcan negotiate for you. Short term leases of 1-3 years expire so fast that another vacancy and lost income is just around the corner for the owner-- not very attractive. Long term leases of 4-10 years equals low vacancy and high profits for the landlord. The costs incurred by the landlord with each new lease signed (legal fees, tenant finish-out and brokerage fees) must also be amortized over the term of the lease. Landlords are willing to invest more in your tenant improvements if they can justify the up front cost with a long term rental income stream. Sometimes landlords are prepared to grant a ‘break clause’ whereby, under certain carefully defined circumstances, a tenant may give early notice of termination.