How Smart Commercial Remodels Reduce Long-Term Repair Costs
Many commercial remodels focus on opening day. Fresh finishes, new layouts, and a polished look for customers.
Remodeling is one extra step you have to worry about amidst an already chaotic schedule. If you’re a commercial property owner in Minnesota, you already have a lot of work to do, and maintaining your real estate is yet another full-time job. From taking care of your day-to-day tenant needs to handling lawn care and maintenance, dealing with tenant improvements for new renters on top of your daily duties can be challenging.
If you’re feeling like there’s always something to be done, here are 5 ways that Titus makes your commercial property management easier.
1. Planning and Scoping
If you have an older building with a ton of potential, it’s often worth the investment to completely remodel the space. What worked in the ’70s isn’t going to fly in the current economy. You have to make yourself stand out—and the best way to do that is to make a wow-worthy space. You also need to consider what tenant allowance you will provide.
All of this strategic work boils down to a lot of hours spent planning and creating budgets. Make better use of your time by partnering with Titus for your commercial properties. Our Design-Build team can assist with all aspects of commercial improvement: including construction and project management in addition to build services.
2. Leave it to the Professionals
We completely understand wanting to DIY your build and save money, but the fact of the matter is that there’s not enough time in your day to get the job done as well or as quickly as a professional team can do it. Sometimes, the best thing for your property is hiring a professional to handle your remodeling needs so you have time to breathe amidst your growing list of duties. While it can be hard to hand off the role, you’d be surprised how much better your process works when someone else is handling the design and building aspects.
As great as you are at DIY remodeling, when it comes to your apartment complex, duplex, or other rental properties, true contractors can always do it better and faster. If you want to wow your future tenants the second they walk into an available space, hiring a professional is one of the best moves you can make for your business.
3. Make Modern Updates for an Immediate Draw
One of the easiest and not-utilized-enough ways to draw new tenants to your properties is to make modern updates. This one single change can make an immediate draw to buyers. If your space looks new and luxe, they are going to pay more money for the space and are more inclined to think your price is worth what you ask for.
Some of the best ways to modernize your rental properties include:
- Update common areas for better first impressions
- Refresh amenities and swap for updated appliances, counters, flooring, etc.
- Install new tech (keyless entry, security systems, smart thermostats, etc.)
- Enhance natural light and add mood lighting
- Reconfigure the layout for more open floor plans and enhanced space
- Refresh bathrooms with new lighting fixtures, mirrors, better lighting, and new tile
- Add energy-saving upgrades (new windows, LED lighting, upgraded plumbing, etc.)
- Paint with neutral, modern colors and replace trim, handles, and fixtures to match
- Coordinate color schemes across the building and add accent walls for a unique look
While these updates might require an initial investment, they give you money back quickly since tenants will pay more per month. On top of that, the quality of renters will only go up as you enhance the quality of your space and increase prices to match. Overall, these modern updates equate to more money back in your own pocket.
4. Maximize Your Current Space with a Better Build
If your current space is extremely old and showing it, you don’t have to completely demolish everything, but you can tear down certain walls and start anew in key areas. If you have a lot of space but not the greatest configurations for the layout, the best way to adjust is to tear down some walls, add an open layout, and reconfigure for a more expansive space. While it’s a lot of work, it will be worth it when the changes drive more tenants to your property.
Need ideas? Check out our commercial property gallery.
5. Work with a Trusted Team
Last, but not least, make sure you work with a trusted team that matches your values and has your best interests in mind. While the cheapest route may be tempting, it’s not always the greatest idea for your most successful project results. Investing a little more in your remodel is going to ensure you get professionals who know exactly what they are doing. Using a professional contractor ensures you’ll have better final results even if you pay a little more up front.
How Does Working with Titus Contracting Help Your Remodel?
If your property needs tenant improvements, it doesn’t mean that you have to do all the work yourself. In fact, when you work with Titus Contracting, you can trust our commercial project management team to handle everything from start to finish, minimizing how much time you need to take out of your busy schedule.
Some of our services include:
Tenant Improvements
Don’t let property improvements take over your free time or weekends! We have a team of specialists who know what it takes to keep properties at their best. Whether it is a small improvement or something larger-scale, such as installing a state-of-the-art gym or conference center, we know how to keep your property at its best.
Construction
If you have recently purchased a piece of property for the purpose of building tenant units, then you need someone who knows the ins and outs of the process. From permits to special skill sets, we are able to help you make your dream a reality. We can work with you to ensure that the finished product is everything you imagined.
Renovations
Is your property beginning to show its age? Perhaps you feel as though you can’t compete with newer leaseable locations in town. If so, then it is time for a renovation. Let us give your place a facelift so it will be more appealing to those looking for a new address.
Build-Outs
Does your commercial property have space that could be repurposed to be more efficient? Are you needing better office space? There might be ways to reconfigure your space to attract the business you desire. We can help you determine how to get the most out of your property.
Remodel Your Property With a Trusted Minneapolis Contractor
As seasoned property management owners, you know you need a commercial contractor in Minnesota that you can trust. At Titus Contracting, we deliver exceptional results to ensure you’re able to provide your tenants with their dream home.
If you are accustomed to taking care of your Minnesota property’s every need, now is the time to let our experienced commercial contracting team help you out. Working with our trusted professionals at Titus Contracting means your property is in great hands, and you’ll be able to show off your new space with pride.
If you have questions about how Titus can help your property look its best, while you still have time for everything else, we’d love to help.
We can’t wait to help make your life easier. Contact us today for a free consultation.
Titus Contracting is a full-service remodeling company offering commercial and residential construction. We have an office in Burnsville, Minnesota and work throughout the Twin Cities.
