For landlords and tenants who are engaged in a tenant build out, there are two important goals that need to be met: to maximize the use of the budget and maximize the actual rental space. Typically, the terms of a tenant build out, including the budget and the desired renovations, are agreed upon as part of the commercial lease agreement. Here at Jerry L. Johnson and Associates, we specialize in commercial renovations and have put together 3 ways you can maximize your tenant build out project.
Consider All Factors When Choosing a Contractor
While it can be tempting to choose your contractor based on which one will complete the job the cheapest, this is often a mistake. Seek out bids from multiple contractors and then do an in-depth review of each bid. The final numbers for each bid will be based on multiple factors, such as time, staffing, and materials. Don’t be afraid to ask questions to ensure you fully understand each bid. A higher-priced firm may leave you with a better overall product.
Be Decisive with Your Budget
The budget is among the most important factors in any construction or renovation project, not just tenant build outs. When a budget is not finalized in a timely manner, it can impact the overall project timeframe and keep it from moving forward. With multiple parties involved, this can be detrimental in a commercial tenant build out.
Communicate with Your Contractor Throughout the Process
By remaining involved and regularly communicating with your contractor during the commercial tenant build out process, you can gain a better understanding of the technical aspects of the project and ensure that project is on schedule. This will also allow you to stay up to date on potential issues and deal with them immediately.