While the goals of commercial build-outs are always the same, renter satisfaction, they don’t always have the desired effect. It can be easy to lose sight of some of the most important factors that often appeal to potential renters. Striking a balance between your need to keep costs in check and meeting the needs of clients can be quite difficult. You can achieve this by trying to think like a renter. Ask yourself what you would like to see in an office space if you were the renter.
What Do Business Owners Want?
Two of the main concerns for business people are a good location and adequate space. Even startups want a little room to grow, but many can’t afford a lot of space right away. Consider creating smaller offices within a large space if you have a very large commercial property that is currently empty. Build the spaces so that you can easily modify them to open up into the neighboring space when the small business outgrows the initial space.
Customization
Each individual business owner will request a certain amount of customization. It’s your job, as the commercial property owner or manager, to agree or disagree to customization efforts. The more creative freedom you can allow each business owner, the better your chances of renting out every space you own. Discovering the balance is often more difficult than it sounds.
Sharing Costs
If you have already completed your build-out, a tenant may request additional modifications to suit the needs of the business. This is a decision that you should think about carefully, even if the costs will be shared. Whether you give in to the request or not it will depend on how much you have already invested, and the cost of the proposed changes.
Communication is key when trying to hammer out a lease agreement, especially when some issues are still pending. When it comes to the cost of a commercial build-out, the negotiations often become tense. If you are considering a commercial renovation, you will need advice from a contractor who has been down this road many times. We regularly work with commercial property owners to make changes to:
- Paint
- Tile Flooring
- Carpeting
- Lighting
- Interior Renovations
- Exterior Renovations
Essential Build-Out Improvements
Some cosmetic aspects of build-outs will not have much of an impact on rental negotiations. Some renters will not care too much about whether the floor is tile or carpet for example. When you are converting four basic walls into a useable office, however, some changes are vital. Let’s take a look at those now:
- Proper Lighting – Work areas must be properly illuminated for the company’s employees to be productive.
- Networking Infrastructure – The office should also have a basic cabling infrastructure set up for Internet connectivity and networking.
Some build-outs are very complex, requiring major changes to the interior and exterior. Few contractors understand this as well as we do at Hendren Construction Co. Talk to us today about your commercial build-out plans and we will make them a reality.