Commercial Remodeling/Tenant Improvements - Yes, We Do That Too!
[fa icon="calendar"] November 15, 2017 / by Home Services Expert
If you've ever ducked underneath someone's oversized umbrella during a driving rain storm, then you know: it provides the safety and security you need when you're caught by surprise.
It may help to think of Experts In Your Home in the same way – a home improvement umbrella company that many homeowners in the Chico area know for what's underneath it: services such as building and remodeling, heating and air conditioning, plumbing, electrical, painting and cleaning services.
But the Experts In Your Home umbrella is larger than some people may realize. It also covers commercial properties, and it's usually at this time of year when commercial landlords are preparing for the year ahead by making what are known as tenant improvements. If you, too, are considering making these types of improvements – either because you want to or a tenant has requested them – Experts In Your Home wants to ensure it saves room for you under its umbrella as our schedule fills up.
Commercial Remodeling Needs Vary
Tenant improvements are also known as “leasehold improvements.” These improvements are usually made before a tenant moves in and are undertaken to customize a space to meet the tenant's needs.
We've all seen commercial properties change hands in the Chico area. A pancake house closes and a sandwich shop takes its place. A morning/afternoon diner closes and an sushi bar moves in. Restaurants have such targeted needs – for ovens, refrigerators, prep areas – that they often remain food establishments. But before they change hands, they often undergo tenant improvements such as remodeling and painting to convey the brand and image of the new owner.
You might think that office-based businesses are “move-in ready” when they change hands, but in our experience, this is rarely the case. A new tenant often requests some modification to the commercial space. Just as often as we build new walls and partitions, we remove walls and petitions that have been in place for years to accommodate the new tenant's space needs.
Anyone who has ever bought a pre-owned home can understand how the “wish list” can compound. Just as the new owner is likely to change the fixtures, flooring, counters and lighting, new commercial tenants are likely to change these elements to reflect their preferences and style, too. And true to form, Experts In Your Home's multi-talented team can handle any tenant improvement request.
Who Foots the Bill for Commercial Remodeling Projects?
Experts In Your Home also is experienced at making recommendations on tenant improvements and coming up with space alternatives – a skill that has helped many landlords and tenants come to terms on spaces that one or the other had come close to giving up on.
About the only issue we prefer to sidestep is who will pay for the tenant improvements. This is an issue for the landlord and tenant to reconcile. But we will say that the issue of payment shares another commonality with residential improvement projects: We've seen the landlord pay for improvements. We've seen the tenant pay for improvements (sometimes after being granted an “allowance” from the landlord). And then we've seen them share the costs, depending on the project.
It's the same way with commercial remodeling. Sometimes the landlord pays for the improvements to make the property more enticing to a tenant. Sometimes the landlord grants an allowance and/or sets a budget for the improvements by the square foot. And sometimes the tenant pays (though it must be decided who will “own” the improvements when the lease ends).
Regardless of the scope of your tenant improvements or who will pay for them, Experts In Your Home stands ready to assist you now and into the new year with your commercial remodeling needs – and with the full range of expert services we're known for.