Renovating an Office
Renovating an office can bring a number of benefits to your tenants and employees. Aside from the increase in value the renovations would bring, the building becomes more attractive to an upscale clientele. This has long-term effects for rental income and client retention. Here are some tips you can use to completely revolutionize and modernize your space.
The building owner should look at some of the buildings in the area to see what kind of amenities are helping to rent space. It makes no sense to put marble tile in a neighborhood decidedly lower or middle class. Always try to match your improvements to the quality of the neighborhood.
Doors and Windows
Renovating the doors to have a higher R-value for insulation is excellent for saving money on energy. Your tenants will appreciate having spaces that are more accommodating, and the look will be updated to something modern. Windows should have thicker panes to reduce the amount of potential heat and energy loss. Quality is best on doors and windows if you want pieces that will last.
Develop an Exit Strategy
Your improvements should be limited to what you think the building could potentially sell for. If you invest too much on improving the property, you risk losing money on the improvements you did make. Your exit strategy will include a potential sales price for the building, so you can use that to gauge whether the improvements will be worth the money for you.
It’s nice to entice new renters with attractive amenities, just make sure you’re offering something compelling.
– ETO Doors is a custom door manufacturer that was founded in 2002. ETO Doors offers its entire stock of doors online, or customers can browse ETO Doors reviews for their favorite brands.