Tenant Representation in Calgary
CORE Commercial Real Estate is passionate about solely representing tenants and purchasers in commercial real estate transactions.
Our goal is to form a long-term partnership with you and become your exclusive commercial real estate advisor to research, identify, and negotiate on your behalf. We will always use our best efforts to promote your interests and negotiate the best possible lease or purchase arrangement.
The Logic Behind Tenant Representation
We are committed to building lasting professional and personal relationships founded on trust and respect. For us, doing the right thing means asking: “Is this the best decision for my client?” When the answer is yes, we know we’re on the right path.
Our Tenant Representation Services
CORE Commercial Real Estate will:
- Provide a complete lease review for your existing space.
- Promote your interests and negotiate the best possible financial and non-financial terms for you.
- Help establish and confirm critical timelines for your lease or sale transaction.
- Conduct a complete market investigation and carry out a thorough evaluation of all market alternatives, detailing building features and all occupancy costs. This evaluation includes your current premises.
- Provide a comprehensive comparative analysis of all alternative lease opportunities.
- Work with you to determine the best location, building qualities, landlord qualifications, rental structure, operating cost structure, lease term flexibility options, tenant inducements, and overall financial terms for your situation.
- Co-ordinate with space planners, designers, and other consultants on space layouts and advise on the content of the schedule to the Offer to Lease, detailing the landlord’s work, base building conditions, and the improvement allowance.
- Draft a comprehensive Offer to Lease, Lease Renewal Agreement, or Purchase Agreement for each of the alternatives provided.
- Ensure you have a good understanding of the intent and interpretation of the lease.
- Work with your legal counsel to negotiate the lease document.
- Ensure you are satisfied prior to the turnover date, which may include walkthroughs and identifying deficiencies to the landlord for resolution.
- Provide a summary of key action dates and all key terms of your lease for future reference.
- Develop and implement a plan for subleasing your existing office space, if required.
- Advocate on your behalf with the landlord for any situation that requires our assistance throughout your lease term. Our services do not end at the execution of your lease.
Are There Any Fees For Hiring A Tenant Representative?
In most cases, no cost to you directly. Commercial landlords typically build leasing commissions into their budget regardless of who represents the tenant, so when CORE brings a signed lease to the table, the landlord pays that commission, not you. This is standard practice in commercial real estate and doesn’t create any conflict of interest, since CORE works exclusively for you throughout the process, never the landlord. It’s still worth confirming the exact fee structure with your broker upfront, since some engagements or unique situations can differ.
Our Calgary Office Tenant Representation Process
Step 1: Understand Your Office Space Requirements
We begin by understanding your business, existing lease and future office requirements. This includes reviewing your current lease, identifying short- and long-term business needs, determining how much office space you require, establishing preferred Calgary locations, setting financial parameters and identifying important lease dates and timelines.
Step 2: Compare Lease Renewal vs. Office Relocation
We then evaluate the Calgary office leasing market to determine whether renewing your existing lease or relocating provides the better opportunity.
For a lease renewal, we review comparable Calgary office properties, current rental rates, landlord incentives and competing space. We compare your landlord’s renewal proposal against actual alternatives in the market so you can negotiate from an informed position.
For an office relocation, we identify suitable available office spaces, coordinate property tours, evaluate each option and create a shortlist. We then compare rental rates, operating costs, landlord incentives, tenant improvement allowances and other financial considerations.
Step 3: Negotiate the Best Available Lease Terms
Once a preferred strategy or property has been identified, CORE develops and executes the negotiation strategy. This can include preparing an RFP, Offer to Lease or Lease Extension Agreement and negotiating rental rates, tenant improvement allowances, free rent, operating costs, parking and other important business terms.
We continually update the financial analysis so the tenant can compare the true cost of each option.
Step 4: Finalize Your Calgary Office Lease
Once the business terms have been agreed upon, we work alongside the tenant and their legal counsel through lease documentation. We also assist with space planning, project budgeting, important lease dates and other requirements leading up to occupancy.
CORE remains available as your commercial real estate advisor throughout the lease term, not just until the transaction is complete.
Tenant Representation Frequently Asked Questions
How does office tenant representation work in Calgary?
A tenant representative works exclusively on behalf of the business leasing the office space rather than the landlord. CORE Commercial Real Estate helps Calgary office tenants identify properties, evaluate lease options, compare financial terms and negotiate with landlords.
Should I renew my Calgary office lease or relocate?
The decision depends on your current lease terms, space requirements, rental costs, available alternatives and the incentives landlords are offering. CORE compares your renewal proposal against competing Calgary office properties so you can evaluate both options using current market information.
How much does a tenant representative cost in Calgary?
In most conventional commercial leasing transactions, the tenant representative’s brokerage fee is paid by the landlord rather than directly by the tenant. The specific commission arrangement depends on the transaction.
When should I start looking at my office lease renewal?
Businesses should generally begin evaluating their office requirements well before their lease expires. The appropriate timing depends on the size and complexity of the requirement, whether relocation is being considered and the amount of construction or tenant improvements required.
What is a tenant improvement allowance?
A tenant improvement allowance, often called a TI allowance, is money a landlord agrees to put toward the cost of building out or renovating your space to suit your business. It might cover things like flooring, walls, lighting, or other upgrades. The amount and terms are negotiable, and one of the biggest benefits of having a tenant rep is knowing how much allowance is realistic to ask for and how to build it into your lease properly.
What is a tenant representation agreement?
A tenant representation agreement is a formal agreement between you and your broker that outlines the scope of work they’ll do on your behalf, such as searching for space, negotiating terms, and managing the transaction through to lease signing. It protects both sides by setting clear expectations up front, including how long the broker will represent you and under what circumstances.
How long does the tenant representation process take?
It depends on the size and complexity of what you need, but most tenant representation engagements run anywhere from a few months to about six months from the initial search to signing a lease. Simpler moves can happen faster, while larger spaces, multiple location options, or heavy negotiation can take longer. Starting early gives you the most flexibility and negotiating power.
Do I need a lawyer or a tenant representation broker (or both)?
They serve different roles, and most tenants benefit from having both. A tenant rep broker handles the market research, site selection, and negotiation of business terms like rent, allowances, and lease length. A lawyer reviews the legal language of the lease itself to make sure your interests are protected on paper. Brokers often work directly with your legal counsel during the final stages to make sure everything lines up.
What is the difference between a broker and a realtor?
The terms are often used interchangeably, but there’s a technical difference. A realtor is a licensed real estate professional who is also a member of a real estate board and follows that board’s code of ethics. A broker is a licensed professional who has completed additional training beyond a standard real estate license, allowing them to manage transactions independently or oversee other agents. In commercial real estate, most professionals doing this work are brokers.
When should I contact a tenant rep, before or after I start looking at spaces?
Before, ideally as early as possible. Reaching out before you start touring spaces means your rep can guide the search from the beginning, saving you time and making sure you don’t miss better options or negotiating leverage. If you’ve already found a space you like, it’s still worth involving a tenant rep before you sign anything, since there’s usually still room to negotiate terms in your favour.