Saturday, May 17, 2014

Basics of Tenant Build-Outs

Every building owner aims to generate income for their place by leasing space to prospective tenants, whether they may be business owners or residents in the case of condo complexes. If you’re a business owner who just obtained a good space in a commercial property, it is time to seek an expert builder who can do a build-out according to your preferences. However, you need to account for certain factors in determining the final cost of the project.

The basic expectation in every build-out is to ensure the space’s compliance with the local building codes. The key to this is inspect the entire unit and document its condition with the landlord’s permission. Give your prospective commercial builder a heads-up on the space before you sign the lease and the landlord must discuss your responsibilities in handling the unit. Although the unit may be ready for occupancy, you, your builder, and the landlord should agree on the build-out.
Time is often one of the bigger issues to handle in a build-out. If your rented space is, say, several thousand square feet, the project may take roughly a couple of months to finish, given due diligence in addressing all issues with the unit.

As the popular adage goes, “All’s well that ends well”. A build-out made to your specifications and compliant with established regulations will make you, your clients, and the landlord happy. 

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