Whether you are a tenant or a landlord, there are a number of factors to consider when approaching a build-out. It is important to understand all the issues before beginning construction. This helps to avoid potential problems in the future. Comprehension of the agreement and planning the details saves time and money. Here are a few tips to assist with tenant build-outs.

Clarity

Both parties need to be fully informed of the details in a build-out agreement. A construction agreement should include the following information:

• Describe what improvements are to be made.
• Define who will deliver and pay for the improvements.
• Provide a timeline of when the project will reach completion.
• Determine finishes (standard or above standard).
• Outline the cap on construction costs, if one exists.

Project manager option

Some people choose to hire a project manager. This person oversees the construction process and can help to avoid conflict between the tenant and the landlord. A project manager handles the following:

• Scheduling
• Budget
• Permits
• Plans
• Vendor selection
• Installation

Your design team

It is helpful to bring everyone together early in the planning phase. This includes the architect or engineer and the contractor. Having everyone on the board early helps estimate costs and time. Issues are dealt with before construction begins, avoiding delays and unexpected costs. It is recommended that you build a solid design team and do so early in the construction process. Communication is key to a successful outcome.

Take the necessary time to plan your tenant build-out. Make sure all details are clearly outlined for all parties involved. This will give you optimal results. Contact us for more information and assistance.