4 Valuable Upgrades Every Commercial Property Should Consider
As a commercial real estate owner or investor, you know that keeping your property in top condition is essential to maximizing its value. Making upgrades and improvements can be a great way to achieve this goal, but choosing the right projects and prioritizing them correctly is essential. In this blog post, we'll discuss some of the most valuable property upgrades for commercial real estate and provide tips on determining which projects are worth your time and money.
Improved Lighting
Many businesses and tenants are interested in commercial properties that help them to save money on monthly energy bills and reduce their carbon footprint. The commercial tenants increasingly prefer sustainable properties, so more commercial property managers are going green to meet the demand.
One of the best ways to provide prospective tenants with a more energy-efficient building is to improve your lighting. Investing in energy-efficient lighting allows you to market your property as energy efficient and reduce the monthly energy bills your tenants must pay if they invest in the space.
In addition to improving the lighting, you could also automate building management triggers based on access control events ensuring that building lights are only on when the building is occupied. When all users leave the space, the lighting will automatically switch off, only to switch on again when a user enters the area. Energy efficiency is desirable to tenants in the current climate, and improving your lighting procedures will make your property more marketable. Furthermore, it may also be advantageous to obtain a Commercial Energy Performance Certificate (EPC). An EPC is a legal requirement when selling or leasing such properties, so being prepared can streamline the process and demonstrate your dedication to energy efficiency. Explore companies online and look for a "get quote now" option for tailored energy-efficient solutions.
A Comprehensive Security System
Your tenants need to know that they will be safe in your property. They also need assurance that the physical and digital assets they store in your building will be secure. So, you need to invest in air-tight commercial security in New York.
One way to improve your security is by investing in visitor compliance services, including visitor badges to verify identities, physical security such as turnstiles or a remote-controlled gate or door, and more.
Cloud-based security is becoming increasingly popular because it offers more convenience for the daily user. It facilitates remote viewing of security data and remote operation of electronic commercial door locks and security cameras from a cloud-based control center or mobile application. Your tenants can receive alerts on their mobile devices when a security event occurs, allowing for swift action. It also offers open API integrations, allowing your tenants to build a unified security system with the integrations they need most - like visitor management software, integrated video and access control, and time tracking software for HR teams.
Cloud-based access control allows users to replace keycards and fobs with mobile credentials that they can easily download, eliminating the expense and inconvenience of replacing fobs and issuing new ones. Mobile access control facilitates touchless entry with remote communication, allowing the user to wave their hand over the access reader and enter. To permit entry, the device communicates remotely with their mobile device using WiFi, Bluetooth, and cellular communication.
Mobile access control is an attractive feature that makes the building’s security run smoothly without inconveniencing tenants as they go about their business from day to day. By implementing a touchless entry method, you can also reduce the number of touchpoints in your building and mitigate the spread of germs.
Modern and streamlined security solutions like cloud-based access control will make your building more attractive to prospective tenants and drive up your property's value.
Enhanced Exterior Appeal
The curb appeal of your commercial property will have a significant impact on how interested prospective tenants are. If your property looks aged or run-down, this will turn off potential tenants.
So, to upgrade your property, you’ll need to consider the visual appeal. Here are some of the leading aesthetic upgrades you can perform on your commercial property:
Replacing outdated windows - if the windows are in disrepair, this isn’t just a visual deterrent for potential tenants; it poses a security risk. So, replace any broken glass to ensure your property is appealing.
Repaint the property - old, chipped, and cracked paint doesn’t exactly show buyers that your property is valuable. Repaint the property in an appropriate color to give it the refresh it needs and increase its visual appeal.
Landscaping - landscaping can do a lot when it comes to increasing the value of your property. Whether you’re looking to attract commercial tenants for an office, apartment building, or warehousing facility, attractive landscaping will elevate the feel of the whole building.
New walkways and doors - the entrance to the building creates an impression on the potential tenant before they even step inside. So, look at your current walkways and doors and analyze whether they’re outdated, unattractive, or simply old and worn. Replace them to ensure your building looks attractive on the first impression.
Upgraded Network Security
You can upgrade your network security to ensure your commercial tenants feel that their digital data is secure. One of the most valuable upgrades you can invest in is AI and analytics. Applying AI and analytics to your network security ensures that system administrators receive alerts whenever an abnormal event occurs, allowing for swift action to retain data privacy. This step will make your property more valuable, as a data breach can be highly costly to a business.
Increase the Value of Your Commercial Property
If you’re looking to upgrade your commercial property and make it more desirable to prospective tenants, you should focus on the visual appeal of the property, the security installations provided at the property, and the energy efficiency of the property. By upgrading the property in these areas, you can make your property more desirable in line with current demands in the commercial real estate sector.
