How to Make the Most of Your Tenant Improvement Allowance

When a commercial tenant leases a new office space, it may not be exactly what they envisioned for their business. In fact, this happens quite a bit. For this reason, it is strongly encouraged to ensure that there is some sort of tenant improvement allowance in your commercial lease before making a final commitment. A TI allowance will finance any strategic or aesthetic renovations to improve on the function and overall layout of your office.

If you have been granted a tenant improvement allowance, but it isn’t what you expected, there are some ways you can stretch it out. Continue reading for some tips on how to make the most of your tenant agreement allowance, and who to trust in central Indiana for superior TI commercial construction work.

Tenant Improvements and Remodeling Indiana 317-253-0531
Tenant Improvements and Remodeling Indiana 317-253-0531

Be a Part of the Process

When discussing your tenant improvement allowance with your landlord or appointed commercial construction company, be sure to negotiate your role in the process. It is important that you remain involved in the entire tenant improvement construction process to ensure that your allowance is being used efficiently. Maintain a role in bid comparisons, contractor selections, construction supervision, and anywhere else that you feel comfortable in order to mitigate additional or unnecessary expenses.

Prioritize All Square Footage

Your commercial office space’s square footage goes wall-to-wall, but your cubic square footage goes from floor-to-ceiling. It is important to use all of your square footage options efficiently and is much as possible. Doing this can help make the most of your tenant improvement allowance. More importantly, your landlord may insist that your tenant improvement allowance applies to only the usable square footage in your office space, but it is actually based on all rentable office space, including areas in your building that are shared with other tenants.

Reuse Materials Efficiently

Before spending even one cent of your TI allowance, first take a look at your overall office space and consider what can be reused after your renovation. There are many types of building features and materials that you may not have to replace, or can be reused without jeopardizing their integrity, such as granite countertops, mirrors, plumbing fixtures, floors, doors, and more. For instance, rather than replacing the hardwood floors in your office space, consider having them refinished or polished instead, which is much cheaper and renders a beautiful outcome.

Discover What’s Hidden

Just like reusing materials to your advantage, it is also wise to take a look underneath some things to see if there is a way to cut back on costs. For instance, underneath that old carpeting could be original hardwood floors. These floors can be restored and re-polished, as mentioned earlier, which is much cheaper than replacing the flooring altogether. In another example, you can remove acoustic tiles from your ceiling to reveal an industrial ceiling, which poses several aesthetic benefits and costs much less than replacing these materials.

Are you ready to get started on your Indiana tenant improvement project, but looking for the right commercial construction company to work with? Contact BAF Corporation at 317-253-0531 for qualified and reputable tenant improvements and remodels in Indianapolis, Indiana. We serve clients all throughout the state.

You Should Also Read:

Who Pays for the Cost of the Tenant Improvements?
4 Tip for Planning a Tenant Occupied Building Renovation
General Tenant Improvements for Commercial Properties

Indianapolis Commercial General Contracting and Design Build Services
Contact Us Today 317-253-0531

4 Tips for Planning a Tenant Occupied Building Renovation

If you are thinking about having your commercial building renovated while maintaining tenant occupancy, your first step is already underway. Preparing ahead of time is a key strategy to implementing a successful commercial renovation while tenant-occupied. With a little knowledge and the right commercial construction contractors on your side, you can pull off any scale of remodel or renovation without jeopardizing your occupancy.

Continue reading to learn 4 particular factors to start your focus, as well as who to call for reputable commercial building renovations in Indiana.

Indianapolis Commercial Renovations 317-253-0531
Indianapolis Commercial Renovations 317-253-0531

4 Things You Can Do to Ensure a Successful Tenant-Occupied Renovation Project

Develop a Plan

As mentioned, planning is a big part of commercial construction success. Get with an accomplished commercial general contractor who has experience with tenant-occupied building renovations, and begin to develop a preconstruction and design build plan.

Foresee the Real-Time Impact

After developing a full plan for your commercial building renovation, really take the time to understand what the impact will look and feel like, for both you and your tenants. This can help you better prepare yourself and your tenants for what’s to come. You can tell them what to expect, when to except it, and what to do if they run into any problems.

Stay in Communication

Along with preparing your tenants for a building renovation is good communication efforts. Staying in communication on a regular basis with your tenants is a great way to ensure a smooth construction process. Continually post or email reminders about certain construction days or any changes to the schedule, and make sure everyone knows how and who to communicate to when they have concerns.

Implement Work in Phases

Working a project in phases is another key to facilitating a smooth and successful building renovation while tenant-occupied. Basically, your commercial construction team will decide the best scheduling strategy for certain parts of the renovation plans, and then schedule them in phases so that the entire building is not shut down or under construction at one time.

An Indiana Commercial Construction Company You Can Trust to Meet Your Renovation Specifications

Contact BAF Corporation at 317-253-0531 for superior commercial renovations in Indianapolis, Indiana. Our skilled and experienced commercial general contractors can help you decide which roofing option and course of action is best for your office or building. We serve all corporate, commercial, and industrial industries in Indianapolis, Indiana and its surrounding districts. Call today to request free information or to schedule a consultation.

Indianapolis Commercial General Contracting and Design Build Services
Contact Us Today 317-253-0531

Can Commercial Renovations Be Done While a Building is Occupied?

Owning a commercial property means that you are investment-driven, and therefore, interested in maintaining a money-making asset. One way building owners safeguard their business’s profitability growth is by staying up to date with the changing technologies and designs of modern commercial real estate.

On the other hand, many building owners feel conflicted between completing needed or profit-building renovations, and caring to the needs of their tenants. This conundrum leaves many commercial building owners to ask whether or not they can even move forward with property upgrades or remodels if it is still tenant occupied.

Continue reading to learn the recommended course of action for planning a commercial building renovation while your property is occupied with tenants.

Indianapolis Commercial Building Renovations
Indianapolis Commercial Building Renovations 317-253-0531

Commercial Building Remodels

The truth is that commercial building renovations can’t always wait. In some cases, they need to be carried out quickly, or for emergency purposes. So, more commonly than not, such construction is typically implemented during times of tenant occupation. The only catch is to ensure that the proper methodology is taken, because there is a right way and a wrong way to make building renovations when existing tenants are involved.

Before finalizing a commercial building renovation plan, be sure both you and your commercial contracting team have covered these vital considerations:

☑ Be Aware of the Impact it Will Have on Your Tenants

To alleviate added inconvenience for your tenants, be sure to inform them of everything they need to know about the construction, including the how the changes will benefit them and the construction timeline. When tenants know what to expect, they have an easier time to plan ahead and make their own arrangements as needed.

☑ Establish a Clear and Convenient Method of Communication

During times of building construction, your tenants will feel better knowing that they can contact a source directly if they have questions or concerns. Prior to beginning any renovations, give your tenants a clear and convenient line of communication they can rely on, whether via email, phone, or office visit. Be sure to keep these lines of communication open so that you can also establish trust among your tenants.

☑ Begin and Finish in Phases

Although some renovations must be done immediately for the purpose of safety or health, many can be divided into separate construction phases. When renovating a building with tenants, breaking up the construction process into segments, rather than attacking it all at once, has a much lower impact on your tenants and their customers, if any.

Where to Get Advice on Your Needed Building Renovations in Indiana

Contact BAF Corporation at 317-253-0531 for trusted commercial building renovations and tenant improvements in Indianapolis, Indiana and its surrounding locations. Our esteemed and experienced commercial general contractors serve corporate, commercial, and industrial industries in Indianapolis, and throughout Central Indiana. Request free information or to schedule a consultation, anytime.

Indianapolis Commercial General Contracting and Design Build Services
Contact Us Today 317-253-0531