As this year draws to a close and the holiday season continues, it’s time to look toward 2021 with hopes for a better future. All of us at Tarantino send warm wishes for a happy, peaceful holiday season and a healthy, prosperous new year.
This past year was a successful year and we’re getting excited about what’s around the corner. Enjoy this holiday season with your loved ones, and we look forward to connecting in the near future!
Commercial renovations can be time-consuming, require a lot of decision-making, and disrupt any business’s sense of normalcy. When the phases of your renovation are postponed and unexpected problems appear, staying sane is essential. Take a look at some of our best tips when preparing for your next renovation.
Renowned writer Catherine Pulsifer once said, “How we perceive a situation and how we react to it is the basis of our stress. If you focus on the negative in any situation, you can expect high-stress levels. However, if you try and see the good in the situation, your stress levels will greatly diminish.”
While every renovation process and construction project has its own set of dynamics, managing your anxiety level should be a top priority. From the initial planning stage to every decision until completion, follow these steps to help you reduce stress.
Have a vision
Set reasonable deadlines
Monitor your expenditures
Hire professionals when necessary
Keep your team accountable
Celebrate each milestone
Expect problems to arrive
Make a contingency plan
Remember your vision
1) Have a Vision
Without having a goal or vision of what you want to achieve, your renovation plan will ultimately fail. Before you start any project, make a plan of what you want to accomplish from start to finish. Adjustments will need to be made later, but it’s good to start with a rough draft to help you stay focused throughout your project.
2) Set Reasonable Deadlines
One of the hardest parts of managing a remodeling project is having to make a schedule that will work for everyone. From hiring contractors to keeping your workers on task, the timeline you set will affect your project’s completion. Instead of setting unrealistic deadlines, consider the unique needs of your property. Consult the experts and find out how long certain projects will take such as new floors, building structures, or installing appliances.
Pro Tip: Depending on your community, you may need to obtain a license or permit for carrying out a construction project. Contact your local representatives for assistance so that your project isn’t delayed.
3) Monitor Your Expenditures
The cost of commercial renovations can add up quickly. As a property owner, it’s wise for you or a dedicated team member to monitor your expenditures on a daily basis. Having a budget is great, but if you’re unaware of overspending, your project could be at risk for delay or bankruptcy. Maintain control of your budget to ensure a successful renovation.
4) Hire Professionals When Necessary
In most construction projects, there are dangerous situations or health hazards that require a professional technician or tradesman. Reduce your stress levels by hiring a professional to help you get the job done correctly the first time.
5) Keep Your Team Accountable
If you’re managing a project, your team should be your priority. While the project needs to be completed in a timely manner, knowing the duties of each of your team members is crucial. Assign individual tasks and make sure your team has the right tools to accomplish those tasks rightly.
6) Celebrate Each Milestone
Motivation is key when it comes to staying sane during a renovation. Issues may come, but if your team is accomplishing tasks, it’s your job to celebrate! As you’re monitoring the progress of your project, determine which milestones could be celebrated. Whether it’s taking your team out to lunch or increasing wages, you can help improve morale within your team.
7) Expect Problems to Arrive
Between severe weather conditions, damaged materials, and faulty equipment, your project will invariably experience some type of problem. While it’s important to plan ahead, there will still be unforeseen situations. Expect these problems to arrive, and decide now how you’re going to respond to prevent any undue stress.
8) Make a Contingency Plan
Anticipating future problems is one way to keep your team on track, especially when partnered with a contingency plan. Make a list of any emergency or unexpected situations that could occur during the life of your project. When problems arise, stress and frustration may impede your judgment. By having a contingency plan, you can make the best decisions for your renovation.
9) Don’t Micromanage
Keeping your team accountable doesn’t mean you have to watch their every move. Determine an effective and respectful way to monitor the progress of your renovation project, and then take a step back. According to a study conducted by the University of Pennsylvania, employees tend to work more, harder, and better when given autonomy over their schedules.
10) Remember Your Vision
Adjustments will need to be made and issues will arise, but don’t forget the initial scope of your project. Take a deep breath. With the right set of tools, you’re well on your way to making your project design a reality.
Staying Sane During a Renovation
Whether you’re building a new office space or restoring an old building, completing your project is a huge accomplishment. By making a plan now to confront potential stressful situations, you can complete your project effectively from start to finish.
Do you have a building project in the works? Connect with our team of construction managers to help you make the best decisions for your property.
In the life of a commercial property, major remodeling or renovation projects are expected and in certain cases, greatly encouraged. Whether you’re sprucing up an older building or providing more amenities to your tenants, renovating a space can greatly increase your property value. As a property owner, it’s important for you to know how to effectively manage construction projects, whether they’re of large or small size.
Managing a construction project affects the outcome of your project more than you think, especially when considering commercial or multifamily buildings. Depending on your location, there are multiple people and factors that need constant monitoring and direction to be productive. Between partnering with local architecture and engineering firms to ensure you’re following local guidelines, the job of a construction manager is essential for any project.
Stay on Time & Within Budget
The difference between an effective and ineffective leader can be found in the initial scope of work. Before beginning any project, it’s a construction manager’s responsibility to set realistic goals and provide ways to complete those projects on time and within budget. Whether it’s a particular person or designated team, keeping a close eye on deadlines and expenditures is key to staying on track. To adequately plan both your schedule and costs, obtain assistance from professionals in the construction industry and ask questions so that you can be adequately prepared.
Promote Good Communication
Construction projects, especially large buildings, involve a number of team members and outside contractors. It’s important to have a communication plan in place to ensure no one is misinformed or overlooked. Make sure there is a clear understanding of position expectations and project updates to streamline the flow of communication. While there are multiple moving parts that are necessary for a successful project, keeping every person in the loop will help resolve issues and help you earn respect.
Pro Tip: Team morale is a big part of maintaining motivation throughout the construction phases. Reward your workers who are going the extra mile and completing project milestones on time to boost productivity for your whole team.
Anticipate Surprises & Unforeseen Problems
In construction, you have to be prepared for the unexpected. While you may implement every management tool on the market, it’s important to remember that you won’t be able to plan for everything. From natural disasters to broken pipes and faulty electrical wiring, there a variety of circumstances that could affect your project’s end result. It’s important to have a contingency plan for work delays or overspending so that you can ensure a successful construction project all around. Even though you can’t predict the future, you can stay prepared so that everyone involved, your tenants and workers, will stay ready.
Effective Project Management Matters
When you’re dealing with unique tenant needs and the schedules of contractors, being able to step back and see the big picture is important. A qualified and experienced property manager should be able to identify the different factors affecting a large construction project and implement solutions that will work. By effectively managing a project plan from start to finish, you can trust your project will be completed without frustration.
Are you interested in renovating or remodeling your property? Connect with our team to learn more about our personalized construction management services.
When you decide to remodel or upgrade your commercial building, you may wonder how much time and money you’ll need to account for. While the ultimate cost will be determined by the nature of your project and property requirements, there are certain factors for you to consider. By understanding the spectrum of commercial renovation costs, you can adequately prepare for whatever may come.
Starting a new construction project starts with a number of preparations. Between negotiating contracts and hiring general contractors, one of the most important factors is preparing your budget. While it may be difficult to pinpoint exactly how much you might spend in a specific commercial project from start to finish, there are important considerations to consider when you’re in the planning stage.
Understanding Renovation Cost Factors
No two properties are the same. Creating a budget for a remodeling project may look different from property to property. Even if the layout and architecture are similar, the costs associated with a renovation project can vary based on factors such as location, usage, and building codes.
Location – Depending on the area in which you live, the average cost of labor or building materials can fluctuate. In the United States, renovation projects can vary by as much as 70% based on location, especially when considering housing developments.
Usage – How will your building be used? From certain amenities to required features, the needs of your tenants will greatly affect how much money you need to set aside for renovations.
Building Codes – What regulations must you adhere to in your local community? In order for you to meet these code requirements, it’s important to know what licenses, surveys, or special materials will need to be purchased in advance.
Pro Tip: Restoring a historic building is a great way to boost your real estate value, but if you’re located in a historic district, there may be additional laws to consider. Check with your local authorities before you start construction.
Accounting for FF&E Expenses
In the process of researching what your commercial construction costs will look like, there are two different parts to consider in your budget. On one side, you have basic tenant improvements such as new walls, windows, carpet, paint, or structural elements. Those can vary based on product type and amount of materials needed.
The second part, however, is often overlooked in building or office renovations. This particular category is often described as FF&E, which stands for Furniture, Fixtures, & Equipment. While it can be difficult to estimate how much will need to be accounted for in this particular category, the expenses of computer systems, office furniture, or any other costs associated with operation can add up quickly. As you’re considering the different commercial renovation costs, be sure to include FF&E in your initial budget so that you’re adequately prepared.
Planning Ahead for Unforeseen Costs
Like any project, the actual building process may not look exactly how you planned on paper. It’s important for you to be aware of any unexpected costs that might come in the course of your project, especially if you’re on a tight budget. Pay attention to the following factors that may affect your costs significantly, such as:
Incorrect building designs
Air conditioning or electrical wiring issues
Untrained structural engineers
Breakdown of equipment
Changes to the scope of work
Partnering with a Construction Manager
Ultimately, every property has various factors that will affect the amount of time and cost required for completion. An experienced construction manager at Tarantino Properties understands the unique needs of every commercial or multifamily property. Whether you’re completing a minor repair or need major reconstruction, our team is committed to finding solutions to help keep your construction costs at a minimum.
Connect with our team to learn more about our management services to assist you in your next property renovation.
As a property manager, you’ll sometimes have to deal with buildings that need extra maintenance or improvement. Maybe they were abandoned or neglected, or maybe you just want to update them. Whatever the case, there are several important steps to keep in mind as you plan to rework your new property.
Does an older property of yours need some renovating? Here’s how to start the process before beginning construction. #TarantinoProperties #propertymanagement
Updating an Old Property
Renovating an old building involves more than just deciding to change a few things here and there. Long before any real construction work starts, you as the property owner have to make several important decisions. Here are a few important things to consider during the renovation process:
Renovation vs. Restoration vs. Remodeling
How the property will be used
Local building laws
What features to keep
What needs to be removed
1) Renovation vs. Restoration vs. Remodeling
Before starting any new project, it’s important to have an understanding of your end goal. As a property owner, changing up your space may look a couple of different ways.
Renovation – usually less expensive than remodeling, renovating is the process of repairing an existing part of a building. Examples include painting a wall or adding new light fixtures.
Restoration – most often used with historic buildings, restoring a building describes efforts made to return a building to its original condition. Older buildings may require new flooring or updated electrical systems, which will ultimately help them last longer.
Remodeling – compared to the other two processes, remodeling a building describes the process of completely changing a building’s structure and may require hiring a contractor. Examples include removing walls, adding plumbing fixtures, or replacing windows.
2) How the Property Will be Used
Planning a renovation or remodel of your building also requires knowing about your tenants. How will your building be used? What kind of spaces will your tenants find useful? As the property owner, you have the power to decide how each room will look and what features are included. It’s important to consider your future tenants when renovating an old building.
3) Local Building Laws
Before you decide whether you’ll be knocking down walls or adding new electrical systems, it’s important to know the building codes of your location. Talk with your city’s planning department to get more information about your building to minimize costly fines or construction setbacks during your project.
4) What Features to Keep
When you buy a new property, there may be particular things you plan to keep and use in your future endeavors. Be sure to take note of the architectural or functional elements that you want to preserve so that you have a framework to plan your new space.
Pro Tip: For commercial property owners, you may not be aware of all of the needs of retail or service-based businesses. Connect with a leasing associate to plan your renovation efficiently.
5) What Needs to Be Removed
Last but not least, it’s important to note which items aren’t worth keeping. From stained carpet to outdated furniture, renovating an old building gives you the opportunity to start with something new that may last longer. In the same way, windows or roofing may need to be upgraded to improve your overall energy efficiency.
Make an Old Property Usable
Plenty of older or outdated buildings can be useful as a revenue-generating property after a little work. Schedule a walkthrough with a professional inspector to determine the level of necessary renovation and start creating a plan. You’ll have a brand new building in no time!
Are you thinking about renovating or remodeling your property? Connect with us to start the process of giving your older buildings a facelift.
A typical property management job consists of quality control, enforcing a schedule, budgeting time and money, and more. As a facet of the overall job, property construction management is a slightly more specialized career. While construction managers perform many of the same tasks as general managers, they’re focused on completing a construction project rather than maintaining a finished building.
In general, a construction manager does any work required to make sure a building project goes smoothly and finishes on time. Additionally, there are several tasks generally considered standard to the job that a construction manager will perform for your project. Let’s look at what you can expect during a building project.
Your construction manager will help you a lot in these few areas! #propertymanagement
Part of a successful construction project is staying within an agreed-upon budget. Unfortunately, unforeseen circumstances may interfere and increase the price. A construction manager will work to balance your budget so you don’t overpay for any additional expenses, keeping your costs as low as possible while ensuring you get the best quality work.
Your construction contract contains all the information and specifications that you and the construction crew need for the job to be completed successfully. A construction manager knows all the intricacies of proper legal writing and contract administration and will make sure that the agreement is honored by both parties. Their job is to prevent you from being scammed and to prevent the construction crew from ignoring the contract.
Finally, a property construction manager also monitors the quality of the construction work being done. Many different people work together on a construction project, and if one person gets lazy and leaves work unfinished, the rest of the building suffers as a result. A construction manager keeps an eye on everyone’s work to ensure that both legal and preferential standards are being met as your building takes shape.
Pro Tip: Part of quality management is also monitoring for safety hazards, both during and after construction. A good construction manager will quickly identify and correct any potentially dangerous situations.
Completing a Quality Project
The construction process requires a competent, efficient property manager to streamline all the necessary work and keep your monetary commitments as low as possible. Don’t settle for a general manager! Find a skilled construction manager for your next project.
Connect with us to talk to our expert management team to find the next construction manager for you.