Renting out a commercial space is a big job that requires continuous attention to detail. One way of avoiding problems with the premises, and thus with tenants, is to remodel at regular intervals using a trusted company.
Whether it be an office or a store or a warehouse, every space needs regular maintenance and remodeling to keep it attractive and desirable, as well as functional.
The Importance of Upgrading Your Rental Premises
When you rent out commercial space, regular maintenance is crucial in keeping long term tenants and attracting new tenants.
If the space is located in a prime area and decked out in such a way that it reflects modern design and style, it becomes that much more appealing. But even with a good location, premises that seem rundown and neglected may drive some potential business away.
Remodeling can also be a good time to check all codes and permits to be sure you are always in the clear. Improvements will allow you to evaluate which areas of the building require work and which ones will need more regular inspections.
What Are the Must-Haves for Commercial Remodeling?
You need a company with documented proof that it is licensed, insured and that employees are properly covered by Workers’ Compensation. Be sure to verify these things via the correct channels. Accept nothing less or else risk court cases and bankruptcy should something go wrong.
You need experience and assistance with:
- design and construction
- project management
- municipal codes
- communicating and negotiating with tenants
- setting clear expectations
Some of the trade skills that you need to consider when hiring a commercial remodeling contractor are: concrete,
It may be beneficial and more cost effective for you if you can possibly find a company that will cover all your remodeling needs, however this may not be possible for all the services you need. In this situation it is important to schedule the right contractors at the right time. For example; the plumbing contractor should be scheduled before the painting contractor.
Benefits of Commercial Remodeling and Renovations
For your tenants, renovations of the commercial property will make them feel that they are important and not being neglected. It improves your relationship with each tenant as they should feel like you have their business’s best interests in mind. Therefore, it should make them more likely to stay longer, which is to your financial benefit.
If you are hoping to attract new tenants and more clients, well-maintained and up-to-date premises are vital. It doesn’t always have to be major changes, small improvements make a noticeable difference too. A new paint job, replacing the flooring and cabinets can give a great facelift without breaking the bank.
The benefits aren’t just for tenants, by the way. When preparing to sell a property or suite, renovating is a vital part of the sales job. There is no question it increases the resale value and attracts more potential buyers.
Greg Nelson is the owner of Nelson Construction & Renovations Inc. He is a Florida State Certified Building Contractor, creating artistry in all areas of design and construction projects. He is a musician, and artist. A husband and father, Greg appreciates all the wonderful elements of family life.
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