How Can a General Contractor Improve My Commercial Property Value?
If you manage a commercial property, one of your main goals is to increase, or at least maintain its value. Unfortunately, buildings don’t usually come with a manual explaining the best way to do that. You might not know what your options are or be sure which remodels are worth the cost.
A general contractor can help you improve your commercial property value by organizing optimal construction or remodel work. They can suggest functional or aesthetic ideas you wouldn’t have thought of yourself, handle logistics with subcontractors, and oversee the entire project from start to finish. Like a wedding planner, a full-service general contractor is there to make the process smooth and successful, while reducing headaches for you, the customer.
In this article, we’ll explore a few projects that can increase the value of your commercial property and how a general contractor fits in.
Projects that can Improve Your Commercial Property Value:
Increasing energy efficiency
No matter what kind of building you’re managing, you can always increase your commercial property value by upgrading to a more energy efficient system. This might mean replacing the windows, switching to a more efficient heating and cooling system, or even changing the doors.
A general contractor can perform any work needed to improve the energy efficiency of your commercial property. Tenants who want to go green or who appreciate lower monthly bills will be willing to pay more for your space.
Creating an inviting entryway
The entryway of your commercial property makes your first impression on any potential customers or tenants. You don’t want an entryway that appears dated, poorly maintained or dimly lit.
Even if you don’t have the funds for a major investment, consider hiring a general contractor to add new doors or windows to your entry. Better lighting is another great low-cost upgrade since customers who are safety conscious or struggle with poor eyesight will greatly appreciate it. These small changes can make quite a difference!
To add even more value to your property, ask a full-service general contractor to help you create a more enticing and open lobby for your building. A magnificent lobby will give a luxurious feel to your commercial space, adding far more value than you might think.
Expanding available space
One of the best things you can do to raise the value of your commercial property is to increase the amount of usable space in the building.
If you have any unfinished rooms, finish them so they can be leased out. If you have two less-used rooms next to each other, remove the wall between them to create a bigger room with more potential. Consider removing hallways or closets so the space can be added to rooms.
Feel free to get creative with changing your floor plan! A general contractor can help you figure out ways to make the most of the space in your commercial property.
Completing any needed repairs
If your commercial property needs any repairs, it’s best to handle them as soon as possible so problems don’t become worse and cost even more to fix. This is especially important if the repair impacts building occupants, since they may become frustrated and give you lower online reviews that discourage future tenants.
Some repairs are large enough to require outside expertise. Others might cost so much that it makes more sense to renovate the area rather than complete the repairs.
If you need to make a major change like replacing old windows with new energy-efficient ones, it makes sense to hire a commercial general contractor. A well-reputed general contractor can ensure you’re getting high-quality work that will significantly increase the value of your commercial property.
The Role of a General Contractor
Now that you have some idea of the kinds of projects that will improve your commercial property value, you probably want to know what these projects will mean for your workload. Here’s how a general contractor can help with your tenant improvement or commercial property management project.
When you choose a commercial contractor, you’re hiring someone to oversee the project and make sure you’re getting the best possible quality of work within your budget. A commercial general contractor will work with you to ensure the project exceeds your expectations and handle the nitty-gritty details.
There’s no getting around the fact that a commercial construction project will take effort on your part, but a general contractor can step in to save you from most of the headache. You won’t have to worry about managing all the labor, materials, and timelines. You won’t need to figure out if it’s too cold to pour concrete or truly necessary to have a P-trap under the sink.
Make recommendations
General contractors know the ins and outs of remodeling and construction. They can suggest efficient ways to implement your ideas, help you through obtaining all the licenses and other paperwork you will need, and ensure you get high quality work that will last.
Manage subcontractors
Most major remodel projects involve subcontractors who specialize in a particular area, like roofing or electrical work. A general contractor can easily find you trustworthy subcontractors they’ve previously worked with.
Sourcing materials
A general contractor knows what materials you need, when these materials need to be ordered, and how to find the best materials at a good price. A good general contractor will work to ensure all subcontractors have everything they need in time to begin the project.
Handle logistics
More than anything else, a general contractor saves you the time and headache of keeping the project on track. They know how to keep your commercial property improvement project within budget and ensure all waste is cleaned up once the project is done.
Hire a Full-service General Contractor with an Outstanding Reputation
CPM is a respected commercial contracting company that has been serving the Pacific Northwest since 1989. We listen to our customers and attend to details to provide high quality work. Our exceptional service has resulted in numerous long-standing relationships with repeat clients.
We are a trusted partner with experience working with a wide range of architects, investors, property managers, and corporate clients. Contact us today to learn more about our commercial property solutions.