Tenavox Blog

The Latest Resources, News and Events Curated by our Team of Commercial RE Experts

 

Written by Josh Feinberg
on October 30, 2017

Leasing commercial real estate is still an antiquated, painful process for the USERS of commercial spaces. While massive gains in technology have been made for brokers, property managers, owners, researchers and the like, the most important factor in every transaction, the TENANT, is often the one left out of the loop in a lease decision.

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A commercial lease decision is often the largest single commitment on a new or growing businesses balance sheet. Here in Houston, the average office lease is roughly 4 years long and an aggregate value of $700,000 in rent due over the term. Pretty hefty stuff.  

The simple truth is this. With the vast majority of money, influence and data being structured around serving the ownership groups and their representatives, the Tenant is a historically underserved group. This is especially true of smaller tenants. No matter the fact that small business accounts for over 30 Billion Square feet of occupied space in the USA alone. The reality of the CRE world is that making leases (deals) is an industry focused around commission, production and volume...and that is going to leave the smallest users behind.

As a former broker, I was taught early that all we have is our time. Our time is best served working on the largest and most profitable transactions. This does not make brokers bad people, quite the opposite, it’s just how their business works. In layman's terms, it's not the player, it's the game.

 

This leaves a new, or “green” broker, working on smaller lease deals with newer or less experienced tenants. This serves no one effectively. Landlords end up with dissatisfied tenants, unprepared for the financial and lengthy commitments and responsibilities associated with their leases. While Tenants make a pitfall decision that at best is going to cost them tens of thousands of dollars and at worst leaves them in a space they are trapped in both financially and literally for years.

No bueno.

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Does this mean you can’t lease space, or that there are no good options out there? Absolutely not, there are innovations in CRE tech happening every day, and fun, exciting new ways of connecting businesses with the real estate that will serve them best.  Now searching for space is one thing, but what about when you’re one of the 30 million small businesses that already have a lease?

Ever had a question, concern, issue during a lease term...Hasn’t everybody? Well Landlords have the deck stacked against you with their leases, which 99.9% of the time favor them. Property managers? Often although they may agree with you on a solution or answer, their hands our tied by the owners. The fact of the matter is, without any compelling motivation to fix an issue or take responsibility for something, Landlords and Owners are unlikely to do so.

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So what can be done? How can we level the playing field for businesses? At Tenavox, we believe there are three steps to Tenant empowerment.

  1. Education on the CRE process and leasing space
  2. Understanding of the market and rent dynamics of a deal
  3. Safe, Public Feedback to drive accountability and improvements

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First and foremost, get educated! Know the terminology and the process inside and out. NNN? Gross? TI? Start with those ;) Even more importantly, learn your market. Understand what it means to make a “good” deal. What is the going rate for space in the building your considering leasing, what do other Tenants think about the Landlord or Management in the property?

It makes about 0% sense that you have more information on the car, house, boat or TV you’re considering than that commercial lease you’re about to sign...you deserve better information.

We believe that from education comes empowerment, and from empowerment comes satisfaction. We at Tenavox believe an empowered Tenant makes a better lease decision.

A happier, satisfied and informed Tenant is better for a Landlord as well. Accountablitiy and transparency in industry breed change, and through change we see improvements. That’s what Tenavox is all about.

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Check out our site, built for Tenants at www.tenavox.com and get the lease experience you deserve.

So what make Tenavox different? Well, basically everything ;)

We’re NOT another vacuous and uninformative search site, we’re NOT brokers and we're NOT selling you anything. We take ZERO transaction fees...our alignment is with the Tenant.

How do we do it? We provide you with our self-maintained database of thousands of commercial buildings in your market, all 100% Free.

Have an issue or question not being solved by a Landlord? Make safe, anonymous reviews on our platform and drive your Landlords (and representatives) to take not only responsibility for their leased properties, but take real action to solve questions and issues.

At Tenavox you get the tools, data and resources to make the best lease decision possible and level the playing field in negotiations. Estimate your space needs, Grade your lease deal, read reviews, analyze lease terms, learn your market and take back the power in your lease. You can take confidence and pride in the fact that we exist for businesses and align with you.

 

We serve Tenant's at every point in a lease decision, NOT just active search. From questions to resources, we have you covered. This means more, information, tools, media and data that helps you, the Tenant.

Never forget this. When you are a qualified  tenant for their building that is extremely valuable.

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At no time will ANY representative contact you on our site without you first asking for them to do so. It’s literally impossible for them. How do we save them time and money, we connect! Think of us like a CRE dating site;) We smart match real time need with real time want, across all commercial property types and businesses.

So what do they get? They get access to the best Tenants in the market. They get the right to connect with a more knowledgeable, in-market and pre-qualified business decision maker. By starting off on the right foot with you this saves them time, money and frustration as well so EVERYBODY makes a better lease.

We think the process should be fair, efficient and transparent. At Tenavox that’s how we ensure you know what type of deal you're really getting. If something isn’t working the way you think is fair? We give you the platform to make it known to other businesses too. Will every Landlord like us? Nope, but that's what transparency is about. The truth.

Unlike those outdated and ineffective "listing" services we add every building in a given market on our own, with our data. We guarantee you a better lease experience because we built a site for you to learn and get empowered as the most important player in every transaction, the Tenant.

As a Tenant, you get access to the best properties for your business, with the comfort and safety of knowing you won’t be harassed, advertised too or bothered by any broker, landlord or manager.

Get the lease experience you deserve...starting today.

Have a lease experience you want to share?

Make a review today at www.tenavox.com

 

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