Landlord Representation

Landlord Representation

Do you want to rent out your property but don’t know where to start or what to do? Have you already leased property and disagreed with a tenant? Having a landlord representative on your team can help solve these problems.

Renting out property can be lucrative but also time-consuming. To market your property, set up contracts, arrange viewings, collect rent, and perform building maintenance, you need to have particular know-how. All this can become tedious and tiring, especially if you have many properties to consider.

Landlord representatives understand the Landlord Tenant Act and will look after your interests. Here is a closer look at who landlord representatives are, their responsibilities, and what benefits they provide.

Basics of Landlord Representation

If you are a landlord or property owner, you will hire an agent to represent your rental property as a landlord representative. These representatives have your best interests in mind, ensuring you get the highest rent possible with the lowest costs and risk.

The landlord representative is there to handle all negotiations with your tenants. Their responsibility is to secure the rental agreements and security deposits and help decide on allowances for tenant improvements and any other concessions.

A landlord representative also will handle any dispute with the landlord-tenant board. These representatives have experience and know-how, ensuring that you get the best deal possible through the negotiations.

Responsibilities of a Landlord Representative

Responsibilities of a Landlord RepresentativeA landlord representative is the most prominent advocate for a building owner with commercial space up for lease. A representative has several responsibilities to fulfill when leasing commercial property, including:

  • Comprehensive property placement, including the development of effective marketing strategies, budget preparation, surety development, and management.
  • Strategically analyze your assets by looking at business demand, market, financial position, and competitors. 
  • Analyze prospective tenants and programs for canvassing
  • Run campaigns to further relationships with brokers
  • Ensure the property is correctly valued and priced for lease
  • Handle lease negotiation and intent letters on behalf of owners, and also draft proposals and accept counteroffers
  • Suggest where the property needs improvement or repairs
  • Report any noted trends, activity and market intelligence
  • Set up viewings with prospective businesses
  • Conduct overall project and property management, including sales investment, analysis, sustainability consulting, appraisal, and properties financing.
  • Obtain and secure offers on behalf of the owners and landlords, and handle all negotiations
  • Help the lessor get the highest rent possible with the most optimal terms

Further, a landlord representative handles offers to purchase, lease reviews, drafting, and negotiation.

Benefits of Hiring Landlord Representatives

With the leasing of commercial property, the landlord representative serves a crucial role by locating tenants beyond just reviewing the online listings. 

Finding the right commercial real estate property can be a long process, which often includes positioning real estate in the marketplace and recognizing suitable businesses. It also involves creating and executing plans, finding a potential occupant, negotiating the transaction, and managing the leasing.

These representatives also are experts at building relationships. They know how to integrate all parties’ needs into an agreed-upon deal by working closely with the leasing broker, the landlord, and the tenant. They often have a thorough knowledge of occupancy rates, tenant demographics, industry trends, and leasing rates.

Do you want your real estate leasing business to succeed, or are you ready to sell your property? Talk to one of the real estate lawyers from Diamond & Diamond Law.

More Info Related to Landlord Representation

Similarities 

Differences

Landlord Representation vs. Tenant Representation

  • Both are leasing agents
  • Both can resolve tenant-landlord disputes
  • One has the tenants’ best interest in mind, the other has the landlords’ interests in mind
  • Tenant reps work with the tenant to find commercial property. Landlord reps look for tenants to lease property
  • Tenant reps want to get the lowest prices for their clients. Landlord reps want the highest prices

Commercial Landlord Representation vs Residential Landlord Representation

  • Both represent the landlords’ best interests
  • Both conduct viewings and interviews with prospective tenants
  • One deals with the leasing of commercial properties to businesses, while the other handles leasing of residential units to individuals
  • Commercial reps have more responsibilities than residential reps because they have to assist with marketing strategies, sustainability, and project management.

Landlord Representation Strategic Plan

  • Develop and execute creative and unique solutions that will support and encourage growth
  • Plan to position your property to attract suitable tenants
  • Work to transform and promote your property’s brand and image through advertising and marketing

If you want to succeed in your real estate leasing business, schedule an appointment with the real estate lawyers from Diamond & Diamond Law.

Pro Tip

Invest in marketing to skyrocket your real estate leasing business.” – Diamond & Diamond

Landlord Representation Track Record

Landlord Representation Track RecordAt Diamond & Diamond, our team of specialists has a proven track record in meeting landlords’, owners’, and investors’ needs. We offer representation for vacant and occupied properties, as well as for those still in development.

Our agents have experience negotiating and overseeing new leases, renewals, consolidations, and expansions. Experience has taught us to understand our clients’ motivations behind their decisions, which allows for educated communication during our discussions. 

We provide a competitive advantage for our clients. You can use our in-house resources as leverage to allow for educated decisions. In today’s marketplace, competition is fierce, but our capital markets team provides analytical property data to drive your decision-making, ensuring you receive relevant data on projects, prospective leases, property valuation, and competitors. 

Find the Best Tenants for Your Property

Whether you’re ready to buy your own home or need to hire a landlord representative, Diamond & Diamond has dedicated experts who specialize in landlord representation and are ready to help you today. Across Canada, they can help with office, industrial and retail property representation. They will negotiate with tenants on your behalf to ensure you get the best outcome.

Our advisors work together with your team to develop competitive asset strategies that will enhance performance and attract and retain tenants. Contact them today!

Landlord Representation FAQs

What happens if my landlord sells the building?

By right, your landlord can sell their property at any time. The sale cannot close before the end of a fixed lease term, unless the buyer agrees to continue the tenancy. A landlord and tenant can negotiate, but generally, the tenant can stay until the end of their lease.

Can a landlord take my possessions?

No, your landlord cannot take any of your possessions if you owe rent, broke a rule, or caused damage. They also cannot take or stop you from taking your belongings when you move out. If you leave things behind when you move out for whatever reason, your landlord can sell, keep, or dispose of them. 

Can a landlord move my personal belongings without permission?

Landlords are not allowed to go through or move your belongings. Though they have a right of entry, you also have a right to privacy. In general, there should be a valid reason and proper notice given before they can enter your unit. Failure to cooperate may lead to your contract termination or eviction.

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