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As a commercial property owner, upgrading your building is never a bad idea. Whether you are looking to attract new tenants/customers, make existing ones happy, or intend to sell it for a profit, upgrading it can help you accomplish all your goals.
Though modifying your commercial property is not easy, the potential for a heavy return on investment makes it well worth your time and money.
Below are some tips to help you to upgrade your commercial property like a pro:
1. Get The Place Cleaned Up
“Do not judge a book by its cover” is the popular adage we often hear. The same applies to your building. You will not be able to make a good first impression if your building is dirty with an untidy landscape and littered walkways. So clean it up.
Trustworthy contractors can help you clean up your commercial property by constructing or repaving safe walkways, clearing snow and ice, and creating a stunning landscaping plan.
Even small investments in aesthetics can have a big impact on the vibe of a space. In the long run, improvements to your commercial property’s appearance will increase its value.
2. Install A Security Gate
Security measures will make you and visitors feel safer and boost your commercial property’s worth. If you do not currently have security protocols for your commercial property, you should start with something as basic as installing a security gate.
Depending on the property’s intended use, area, and any tenants’ demands, some commercial gate designs may be more appropriate than others.
For instance, hydraulic sliding gates and an automatic barrier are good options to prevent vehicles from driving over a specific area and ensure no one gets run over. On the other hand, vertical-lift gates might be more appropriate for security clearance and parking.
Besides providing increased privacy and security, security gates can also spice up curb appeal.
Safety swing gates are devices designed to prevent accidents and injuries in industrial and commercial environments.
3. Add Amenities
Amenities are the most important factor in determining whether or not businesses will sign the lease for office space in a commercial building. You might be competing with a building just two blocks away, so what do you have to offer that the other building doesn’t?
To begin with, you should facilitate your tenants with a fast Wi-Fi connection. It is a must-have amenity in every commercial property. Modern-day businesses rely on the internet to communicate, get work done, acquire clients, and assign projects. It stands particularly true for employers who have a remote workforce.
Dining options are another important feature to add to your commercial property. Workers can save time during lunch if they can access a cafeteria or pop-up food service at their workplace. According to seasoned property managers, you should at least set aside 10% of the common area for on-site eateries.
Incorporating outdoor space in your commercial property is also a hot-trending amenity. An outdoor area accessible from inside sections provides a more open and lively atmosphere for consumers and employees to hold outdoor meetings and events.
Apart from that, adding outdoor space can increase total rentable square footage by as much as 50 percent. It means extra money in your pocket.
4. Prioritize Repairs
Ideally, you would want your property to function properly so that your tenants may feel safe and comfortable using all of the available spaces and services. However, you will likely run into a few odd issues here and there as time goes on.
Even a tiny leak can become a huge problem in the long run. So do not ignore repairs from time to time. Get in touch with professional contractors and handypersons to fix everything right away.
It could be tempting to save money on repairs by relying on your DIY skills. But since commercial properties need to adhere to strict health and safety regulations, you should avoid such an approach.
Visual inspections at regular intervals will help you see any damage and address it before it worsens. It isn’t necessary to perform a comprehensive inspection every time, but you should focus on potential trouble spots. Undertaking this simple task could prevent unexpected situations that might be quite expensive.
5. Focus on Energy Efficiency
According to the ACEEE, office equipment is one of the fastest-growing energy-consuming entities in commercial buildings in the United States. It uses about 7% of a company’s total commercial electric energy.
Recent numbers suggest commercial electricity bills account for $1.8 billion annually. That is why businesses are looking for commercial spaces prioritizing energy efficiency.
To make your property more energy-efficient, insulate the space and fix the heating and cooling systems, pipelines, and electrical outlets. It will reduce the need for heating and cooling, saving money for businesses.
Another way to lower your building’s energy consumption is to replace your current elevators and escalators with more energy-efficient models. The elevators in your commercial building might have some electrical load redirected to the solar panels.
On the other hand, if you want to manage the speed of the escalators, you can install various tools for that. When they detect foot traffic, the escalator will speed up; otherwise; it will move at a much more leisurely pace.
6. Invest in Quality Low Voltage Systems
You may not immediately consider low voltage systems as a means to upgrade your commercial building. However, they might be the most vital of all. The following are examples of popular low-voltage systems:
- Smoke detectors
- Nurse call
- Paging systems
- Data communication
Fire alarms might need to be installed following local codes. Also, after installing these systems, you must maintain regular maintenance to make the most out of them.
Upgrades ensure that any commercial structure remains in pristine condition. But the job is easier said than done. Fret not; it is normal to feel lost when faced with the prospect of renovating a commercial space. But you can do the job by implementing the tips this post covers.