Construction

Construction, Tenant Improvement Contractor

All You Need to Know About Tenant Improvements in Arizona

All You Need to Know About Tenant Improvements in Arizona

Tenant Improvement (TI) is one of those elements in a tenant-owner relationship that the majority of people don’t fully understand. Also known as leasehold improvement, the provisions of TI must be clear to both parties before they jump into a lease deal and get any seasoned tenant improvement contractor in Arizona on board.

According to a certified commercial real estate body, Tenant improvement is: “the customized alterations a building owner makes to rental space as part of a lease agreement, in order to configure the space for the needs of that particular tenant. These include changes to walls, floors, ceilings, and lighting among others.”

Common Elements of a TI Agreement

Every TI agreement is unique, depending on the property and the needs and demands of renters and owners. However, there are some recurring elements that are part of every negotiation.

Will It Be a Turnkey Build-Out?

It is considered one of the most negotiated points of any tenant improvement deal. If this clause is included in the agreement, the owner has to manage all the elements of construction and bear the monetary risks throughout the process.

Settling the Debate of Improvement of Usable and Rentable Space

Every residential and commercial rental divides into usable vs. rentable square feet. TI deal has to take into account how the money spent on improvements will relate to usable (separate) and rentable (common) space of the building.

Fixing on Substantial Completion

It is important to decide the Substantial Completion cutoff of improvements so that it can coincide with the rental payments from the tenant.

Agreement on Costs Overruns

If the turnkey build-out clause is not part of the agreement, then both parties have to reach a mutual agreement on any potential cost overruns of the improvement.

Finding the Right Contractor

Once the points of TI deal have been ironed out, it’s time to find the right person for the job.  Besides meeting the basic requirement of certification and insurance, also assess the following factors while choosing a tenant improvement contractor in Arizona.

  • They should be in the business for a long time. (10+ years)
  • They can show you some of their similar past projects.

Getting referrals is another way of finding the right company for the job.

Benefits of Tenant Improvement for Owners

For owners, TI agreement is a win-win situation. They can successfully persuade renters to pay the desired amount of rent by agreeing on their tenant improvement clauses. In the long run, tenant improvement is a value-added measure for your own property. All the additions, adjustments, and modification that you incorporate in your property through tenant improvement eventually increase its value on the listing.

Lastly, you can improve your reputation as a landlord by adding TI clause in your rental deal. It shows that you are willing to accommodate the renters’ demands in the deal. Finding new renters of your choice becomes easy when you have a trustworthy and forthcoming reputation as a landlord.

MJM Improvements is a reliable construction company operating out of Glendale, AZ. The company provides its services for all the phases of commercial and residential constructions throughout the state. If you are looking for a qualified tenant improvement contractor in Arizona, then MJM Improvements should be your pick.

Construction, Construction Consultant, House Addition Contractor, House Renovation, Residential Addition

Why You Should Add Deck to Your Property?

If you are looking to make a home improvement investment that entails both functional and monetary benefits, then there might be no better option other than deck addition. Decks are one of those residential additions that can promise a really good return on investment. And we don’t know where to start about the functional benefits of having a deck extension to your house.

Let’s have a quick look at all the benefits of adding a deck to your property given that you commission only a seasoned house addition contractor in Arizona for the task.

You Get a Free Venue

By adding a deck to your property, you get a venue free of cost for a range of get-togethers. Whether it’s a sunny Sunday brunch in winters or a summer BBQ with friends and family, you don’t have to worry about the venue. It’s right there in front of the house.

You Can Make Your Evenings More Fulfilling

Have you ever calculated the time you spend indoors—in your car, workplace, and home?  Many of us virtually live an indoor life. It’s important to break free of that ever congested setting now and then.

You certainly can’t change the design of your workspace, nor is it easy to change your ways of commute. However, you can incorporate some open-air time in your routine by extending your property with a deck. By having a deck, you will get the option to spend your evenings breathing fresh air instead of binging in the lounge like the rest of the day.

You Don’t Have to Strain Your Budget

Since there are no roofs and walls, decks are fairly inexpensive in comparison to other residential additions. An experienced house addition contractor in Arizona can also give you further tips on keeping the deck construction an economical affair.

Besides cost, decks can be finished and furnished in a short time window. Regardless of the area and design of the proposed deck, experienced construction contractors can finish it within a week.

Purchaser Will Be Sold on Curb Appeal Alone

Selling your house in the price that you want is not a mean feat. By adding a deck to your property, you have a better shot at getting the desired price. A deck can turn around the curb appeal of any residential unit. A deck furnished with some light furniture and plants oozes extravagance and can give the house a more upscale-look than all the nearby residential units.

Things to Take Care of

Before you contact a home addition contractor in Arizona to build a deck, you must answer these questions regarding the project.

  • Do you want fixed seating and other built-in features (fire pit etc) in the space?
  • Does an optimized view should also be factored in during the construction of deck?
  • How much sun exposure do you want on the deck?

MMJ Improvements provides first-rate services for all construction phases of commercial and residential projects. Get in touch with the company if you want to add a deck to your property for all its functional and monetary benefits.