When you’re someone running a business, you would know that owning and managing a commercial property is not just about continuous earning from your hard work. It also entails attracting investors, expanding your network, and gaining more clients– in short, getting your business known. Believe it or not, your commercial property works wonders in making your business recognized by your target market.
Take, for instance, your electrical wirings and HVAC system. These parts are so important to your building that they are actually hidden and well-kept behind general-purpose access doors and panels. Your commercial property is like an access door. It doesn’t only protect your building from external circumstances such as weather; it also keeps the whole value of your business. In short, you’ve got to keep your commercial property maintained and updated because it is the first thing that people will see and judge your business on.
There are simple but top ways any commercial property owner can do to boost the appeal of his/her property. While these tips may take away money from your pockets, without doing them, you may not be able to realize the full potential value of your commercial property. In this blog, we categorized the top ways from low-cost to high-cost tips that you can do.
1. Clean Regularly
When your property is clean, you might find yourself having an immediate return on the value of your property. Cleaning your property regularly includes both the outside and inside. Make sure that there is no garbage, dirt, or strange odors within your property.
Just adding a fresh coat of paint can make a huge difference. If your commercial building already looks tired and worn-out, painting your walls will surely revive and brighten the place.
3. Install Energy-efficient Lighting
Did you know that installing energy-efficient lighting is a cost-effective way than can dramatically improve and brighten the space? Adding LED light bulbs can actually cut down your property’s energy costs, thus reducing your operating costs and lower your utility bills.
4. Simplify Parking
This is probably one of the aspects that most of us just take for granted. As a commercial property owner, you must know that it is important to take parking into consideration. When you have little to no parking area on your premises, the chances of increasing your clients will surely drop considerably. After all, no one wants to park so far away from their destination, right?
5. Stage your Property
Decluttering also works wonders when it comes to making your place more spacious. It can help to give each room in your commercial building a function. Also, have proper placement of your furniture and appliances to ensure that your space won’t get too crowded.
Moderate to High-Cost Ways
If you want to add more potential significant value to your property, then maybe it’s time that you add average to high-cost upgrades depending on the extent of your renovation and the materials. Here are some of the top moderate to high-cost ways to improve your commercial property.
1. Add Structural Improvements and Architectural Details
This is probably the most straightforward way of improving your commercial property. You can do this by checking for damages due to water, leakage, or moisture issues, looking for opportunities that will allow you to update the exterior look of your property such as when there are signs of peeling paint, warping, or loose or cracked panels around your exterior. Also, check the roof condition of your property and repair issues immediately. If you have boring rooms, you can add some character by redesigning your room or the furniture in it– say, you turn your boring and plain-looking chair into something like a throne chair. It’s all up to you to use your imagination. Having a high-quality copper pipe running through your water and/or gas systems can also improve durability and prevent future repairs.
2. Change or Add more Windows or Doors
Not only does this improve your property’s aesthetics, but also reduces the noise inside the building, help lower your heating and cooling bills and increase natural light in your interior. You can properly position windows and doors to help highlight a beautiful view that your property may have or reduce something that you think is undesirable. You can even consider adding skylights to help brighten up spaces that lack natural light.
3. Install New Flooring
Update that old carpet that you have or add hardwood or tile! Even flooring contributes to how your clients or visitors will judge your company. Moreover, installing new flooring adds value to your property in case you would reach a time when you want to sell your property.
4. Reduce Noise
Employees and customers want to feel comfortable even in an office or a commercial space. You can give them a comfortable space by reducing noise such as adding insulation, adding double pane windows and doors, installing thick carpets and rugs to minimize footsteps to absorb noise.
Final Thoughts: Don’t Over-improve!
Of course, you want to improve your property and increase its value, however, you also have to be cautious– don’t over-improve your property! There are limitless opportunities available to you in increasing your property’s value but you don’t also want to go overboard and acquire more liabilities in the process of improving your property. As a last piece of advice, you have to make a solid plan before you actually start improving your commercial property– do improvements within reason and don’t spend all your money on improvements.