Renovation of commercial and retail real estate often occurs in its life cycle. It is an upgrade process that supports rent, tenancy, and tenant profile. If the property is not extended, rents will decrease and tenants will move. Simply put, it will have a dead property. This is not very good if you are an investor.
However, you must make careful decisions when it comes to contractors for the upgrade process.
The contractor selected for the commercial renovation Singapore should have a “proven track record in renovation”, especially for occupied facilities and investment facilities. Insist on interviewing all potential contractors before inviting them to bid on a project get detailed information about them from other projects of similar need or success. Look at other projects in terms of the size and relevance of what you are going to do. Browse tenants and clients in another property or project and determine how they may resemble your project.
In fact, it’s important to use contractors who understand the need for their property to get around the reconstruction project. They should also understand the impact of such work on tenants and customers, while offering a robust strategy to minimize this impact.
The interview process with the contractor can help determine the contractor’s capabilities and understanding of the project. It will also help ensure that only those contractors who meet your criteria must submit job offers.
An invitation to an interview should be sent to potential contractors along with a brief description of the amount of work to be performed (including deadlines and other relevant details). The scope of work and preliminary drawings should be available to the contractor prior to the interview.