If you run or own a business or commercial property, then the time will inevitably come for renovations. You might need them to repair aging infrastructure, to make the space function better, or to increase its value on the market. Whatever the reason, renovating a commercial building can get complicated. They are often big jobs, and they often involve a lot of moving parts.
Having commercial property means making sure that everything in the building functions well for your business tenants, their employees, and their customers and clients. It can be a hefty investment to make upgrades, so you need to get it right. Otherwise, you might end up with delays, extra costs, or an unsatisfying end result. Here are seven tips for commercial building renovation success.
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Be Clear On Your Goals
One of the best ways to keep a project on track is to be clear on your objectives and how you will meet them. For example, are you upgrading a space because it’s gotten older? Are there certain amenities your tenants have requested? Are you adding more space? Whatever your goals are, the project should be focused and pointed at achieving them. If you are unclear, then it could end up going off in directions that you don’t need and don’t want to pay for. Understanding your goals will also help you decide whether you actually need the renovations right away or what to prioritize during the project.
Create a Realistic Budget
Every project has to have a budget. However, you need to be realistic about what it will cost and how long it will take. Make sure to consult closely with your contractor to get accurate cost estimates. Then make sure you have contingencies built in for any circumstances that pop up along the way. Many contractors will give you the lowest possible realistic price so that they can get the contract. However, things can change, including the cost of materials, and the difficulty of the project can vary depending on your specific circumstances. Having a good budget will ensure that you are prepared for everything and also help you prioritize.
Hire the Right Contractor
You might be tempted to hire the contractor that offers you the lowest price. This might not be the best idea, even though it will help with your budget. The fact is, you want the end result to be perfect. Your reputation and your revenue will depend on the quality of your building and how it looks. If you skimp on the cost, you may end up with results that don’t reflect what your goals are. You will need to balance the need to stay on budget with the need to have a contractor you can trust. When you are considering contractors, talk to them and ask questions about how they do their business. Also, look for reviews and recommendations. That way, you will be more likely to end up with someone that won’t break the bank and will give you excellent workmanship.
See What You Can Save
There may be strengths of your building that you can save or highlight for when the renovation is finished. You may not have to spend as much replacing them and can instead improve them or add to the new space. For example, if you have great windows, you may get commercial window tinting in Charlotte, NC installed to provide privacy and energy savings. Your tenants won’t lose out on the windows and views they already enjoy and will gain the function of tinted windows. In some cases, buildings have strong infrastructure which can be preserved, and more aesthetic changes can be made instead. Evaluate your buid=lding and see what’s working.
Go For Efficiency
A new renovation is a great opportunity to make your building more energy efficient and sustainable. You can start by using renewable materials that are previously used and can be recycled and used again when they are removed from your building. Windows can be reinstalled and sealed, and you can use more eco-friendly options. For example, with a new renovation, you can install solar panels and use LED lighting. If you are demoing walls and ceilings, it’s also a great time to replace your air ducts or your HVAC system as a whole. Some of these steps might cost a bit more in your renovation budget, but you will recoup that cost in energy savings.
Have a Good Schedule
Big commercial renovation projects require the right scheduling. Many things are going on, and some tasks need to be completed before others can start. With a clear schedule, you can make sure that one subcontractor is finished before another one comes in, for example. You may also need to schedule events or important dates around the construction so that neither are interrupted. Of course, delays will cost you money, so do whatever you can to run a disciplined schedule with some wiggle room built in.
Design for Your Target Tenants
When planning a renovation, always keep in mind who the changes will be for. There are any number of possible types of tenants that you might have. For example, a health clinic would need a reception area and small private rooms. A call center would need a large space, lots of parking, and enough restrooms for everyone. A retail space might require storage and access to a loading dock. By keeping these in mind, you will be able to design a renovation that will help those who will be your revenue source.
Don’t be intimidated before starting a commercial building renovation project. If you follow these tips, you can keep yourself on track and keep your project on budget and on time. Ultimately, you will have a better space for yourself and your tenants.
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