Whether you’re upgrading business offices or staking out retail territory, a commercial tenant improvement is an affordable strategy for expanding economic horizons. Commercial renovation for an existing space isn’t as complicated as building from the ground up, but project success depends on solid planning and partnering with the right contractor. As you formulate ideas for your new and improved space, keep these six tips in mind during a commercial renovation
1. Start With Your Budget – Decide on how much you want to spend on your commercial tenant improvement before considering design and construction ideas. When you formulate a solid budget first, it keeps planning realistic and helps you make big decisions with confidence. It also makes your contractor’s job easier because budget parameters are upfront and clearly drawn. Don’t worry about sharing your budget with your contractor. It’s their job to maximize every penny to make the new space work for you.
2. Save With a Design/Build Process – Before you solicit initial bids for a commercial renovation, speak with different general contractors about their approach to tenant improvement projects. Firms that apply a design/build process offer consolidated services that can help you stay on budget. This type of project management ensures smooth job progress, holds down commercial renovation costs and improves risk management.
3. Analyze the Bids – Always get at least three bids on your commercial tenant buildout, but don’t let the numbers rule your final hiring decision. A high bid might be based on longer-lasting specialty materials while low numbers could reflect a construction firm’s time- and labor-saving strategies. A reputable contractor is always willing to review calculations and explain final figures.
4. Stay Involved With Planning – Let your contractor know that you want to work closely with the teams involved in pre-planning. They can help you understand the finer points of architectural and engineering drawings. This gives you an accurate overview of your project, and it helps you focus on details that you might not have considered.
5. Get Help Navigating Regulations – An experienced commercial tenant improvement contractor understands permitting and zoning regulations and deals with them on a regular basis. Take advantage of their insider knowledge, and delegate as much of the legwork as possible. Most tenant buildouts require obtaining approval from different regulatory agencies, and your contractor should be taking care of those for you.
6. Think Now and Long-Term – Sometimes with a multi-year lease, It’s not necessary to do all commercial renovations at once. If you have a multi-year lease, consider upgrading in phases so that you can afford higher quality materials and major structural modifications. However, remember that whatever you invest stays behind when you finally move on. Strike a sensible balance between what you want now and what you can afford over the long run.
Additional Reading about Commercial Tenant Improvement:
- Staying Open for Business During a Commercial Renovation
- 7 Commercial Construction Tips for Office Renovation
- 5 Tips for Preparing for a Retail Commercial Renovation
If you’re considering a commercial tenant improvement, our team is available to answer your questions and help you understand the details. If you’re ready to get started on a tenant improvement project, CBF Contracting stands ready to be your partner in building success. We bring more than 40 years of commercial construction experience to every job, and our quotes are always free. Give us a call today at 814-745-3000, and let us help expand your economic horizons.