Increase the value of your property and execute a successful renovation by using our tips!
If you own a commercial property that is over 20 years old, you have most likely already considered a renovation. Building renovations are the best way to bring your building up to date, improve the environment for your current tenants, and find ways to eliminate inefficiencies in the current operating systems. Though a building renovation is definitely beneficial, it can be intimidating to get started. To help you brainstorm, we’re going to be going over some of the goals you should keep in mind as you begin the renovation process. We’re going to be talking about a few different goals for different aspects of your property including building automation, sustainability, and curb appeal. So, if you are a property owner considering a major renovation, keep reading to find out what should be your highest priority and ways you can get started.
- Implement Building Automation Systems
The more you can implement automation into your building, the more efficiently the whole property will operate
Building automation makes building management easier than ever.
Before automated technology was widely available, building managers were in charge of overseeing the daily operations for water, HVAC, and lighting systems. Though this worked fine before automation, using a building manager to oversee and troubleshoot building systems is highly inefficient. That’s why it is so important to prioritize implementing automated system controls in your commercial building renovation. Building automation systems have the power to monitor, control, and report on every operating system in your building. That means that should there be any malfunction or overuse identified, the building automation system can signal to the building manager that there is something wrong and repairs are required. It can also give managers detailed reports on how much energy and resources are being used by your building. For example, if you implement building automation for your water system, the automation system will be able to pull reports on how much water is being used, where it is being used, and it can even offer suggestions for improvement.
A building automation system (BAS) consists of a controller that is connected to individual devices around your building, The devices are connected to the BAS via either a WiFi connection or through ethernet cables. In order to properly implement automation, each system will need to be equipped with sensors that can report back to the BAS on the status of each system. This included temperature sensors, occupancy sensors, sunlight sensors, water use sensors and more. Once the sensors are installed and the system is up and running, the building can begin creating its own reports and making necessary adjustments.
Implementing building automation helps building owners save money and saves time for building managers. Plus, it can help owners work towards sustainability goals. When a building is completely automated, there is no room for human error or wasted energy. This is how these systems are able to save money and conserve energy. Not to mention, automated systems are also able to predict and report on necessary repairs. Instead of waiting for a major malfunction that affects your tenants, building owners can save money by undergoing preventative maintenance rather than cleanup & repairs.
- Maximizing Sustainability
Speaking of sustainability, there are a lot of different ways that you can save energy in addition to a BAS system
Both owners and tenants benefit from sustainable improvements.
Right now, the biggest trend in building construction and renovation is sustainability. Sustainability is beneficial for both the building owner as a way to save money and for the surrounding community as there is less demand for energy derived from natural resources. As we know, producing energy creates harmful emissions that jeopardize the health of the natural environment. In an effort to decrease these emissions, many building owners are being encouraged to ditch their current devices in favor of more sustainable options.
A great example of this is LED lighting. LED lights are able to produce the same amount of light by using far less energy. LED lights are also able to provide higher quality lighting with greater control. Replacing all of your current lighting with LEDs is also one of the least expensive renovation choices you can make as the fixtures are inexpensive and are easy to install.
You may also want to consider developments to decrease the number of people that drive to your property on a regular basis. Cars are one of the leading CO2 producers around the world which is why buildings—especially those in urban areas—are eliminating parking options. Instead of parking options, many building owners are searching for ways to add more bike racks, building sidewalks that connect to city infrastructure, and even replacing parking spaces with solar panels. Though some may find it inconvenient to travel by any method other than a car, more people than ever are commuting to work without a vehicle. Because of this, it is important for building owners to make renovations that both help the environment and provide more transportation options for tenants.
- Make Exterior Updates
Make an excellent first impression on prospective tenants and buyers by making exterior improvements to your property
Don’t underestimate the power of curb appeal.
If you are renovating your property for resale or are interested in attracting new tenants, then increasing curb appeal should be one of your big goals. Though you will need the inside to match the outside of the building when it comes to improvements, it is important to make sure you don’t neglect the exterior. There are a bunch of ways to improve the look of your exterior, the first one being lighting. Exterior lighting is something that is often overlooked—especially in older buildings. The purpose of exterior lighting is twofold. You need your exterior lighting to highlight the best aspects of your property and make your building look visually appealing at night time. In addition to aesthetics, your exterior lighting needs to provide ample light for maximum visibility and safety. These days, it is pretty easy to create an impressive exterior lighting package that is both attractive and functional for your tenants.
Another way to improve the exterior of your building is by providing new, clear signage. If there are no markers to show people where to park, enter, and exit the building, visitors can quickly become confused. Lack of proper signage can inspire doubt in prospective buyers and tenants. That’s why it is also beneficial to clearly display the address and name of the building—if the building has a name—and any other information visitors need to know. New signage is also a branding opportunity. If you have a logo, this may be a good time for an update before the new signage is installed.
It is also beneficial for building owners to consider redoing landscaping as a part of the renovation process. Landscaping can quickly become overgrown and unattractive if it isn’t properly maintained. So, before you conclude your building renovation, take a hard look at your landscaping. If it seems overgrown, out of date, or simply underwhelming, it may be time for a complete overhaul.
Starting a building renovation is no easy task. That’s why it is so important to begin with your end goals in mind. By starting with your goals, you can more easily begin to hire contractors to begin the renovation process, start budgeting, and start setting out a timeline.
With these three goals in mind and the suggestions we’ve offered, you should have a better idea of what tenants and prospective buyers will expect from your building renovation. When you start out with your renovation, we highly recommend leaving some extra room in the timeline and budget to avoid getting behind. Since contractors and cost of materials can sometimes be unpredictable, you should establish a firm but lenient schedule. Once you have your goals in mind, your timeline, and your budget, you’re ready to start your commercial building renovation. Good luck!