Tenant improvements, also known as tenant build-out, can dramatically enhance the look of a room or of any other interior space. Hiring a professional contractor, you can redesign the living space and make it more pleasant, functional and also bring it up to current building code standards.
Usually, the landlord has to hire an experienced contractor to change the interior of his property in order to accommodate the needs and requirements of a tenant. Some of the most common tenant improvement options are floor coverings, wall coverings, lighting, ceilings, HVAC systems and partitions.
Types of Tenant Improvements
Normally, there are three main types of tenant improvement agreements:
1. Tenant Build
In this type of agreement, the tenant has complete control over the project and is responsible for design estimates, procedures and even delays. He is the one responsible for finding a contractor to work with, paying him and ensuring everything goes by the book.
In this agreement, both parties, the tenant and the landlord, approve design plans and work together in order to achieve a maximum efficiency. While the landlord agrees to pay for the project, the tenant is responsible for additional costs associated with possible delays or plan changes.
3. Landlord Build with Allowance
In this agreement, both the tenant and the landlord sign a lease, agreeing to make improvements of a specific amount. The landlord is the one who chooses the contractor and the design team. In this case, the tenant is only responsible for additional costs which are not set in the contract.
If you are a tenant, probably the best option for your is the latter one. However, if you are the landlord, you might want to choose the turnkey type of agreement, because you want to be a part of the process, but not do it all by yourself.
Modern Tenant Improvement Options
Renovations can be anything from updating wall colors, installing cabinets or doors, changing floor types up to transforming a night club into a modern restaurant or converting a simple plain retail space into a futuristic-design dental office. Regardless of the tenant’s plans or goals, the landlord needs to comply. Of course, if the landlord and the tenant can’t reach a common perception, the latter can move to another location.
While converting a commercial or residential space, such as a hospital or restaurant, into a space more suitable for a specific business, is more complicated, apartment tenants should not have any problems whatsoever transforming the place they live in into a paradise (of course, after getting the landlord’s approval). Armed with a strong vision, the tenant can transform the space into the home of his dreams.
However, all the local building codes have to be met. Otherwise, the landlord could be liable of paying penalties or fees. Hence, you need to find an experienced commercial remodeling contractor that has plenty experience in home renovating projects and is well able not only to meet all your needs, but also comply with all the local and State codes and rules regarding home renovations. Choose a professional tenant improvement contractor and enjoy your new commercial space today.