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Making your retrofit a success
Ten or fifteen years ago, retrofitting a building involved little more than a cosmetic makeover: new carpet, fresh paint, and new light fixtures. However, today’s high-tech tenants care less about the color of the walls than the telecommunications encased within them.
According to a Journal of Property Management article, the two main components of any retrofit should be adding high-speed electronic communications systems and adequate, redundant power sources to maintain them. Here are some helpful hints:
• Avoid over-investment. Upgrade things that are necessary for the new systems, but refrain from replacing components "just because you’re there."
• Secure written commitments to remain in the building from current tenants and several months’ rent up front from new tenants to ensure financial backing for the project.
• Don’t try to manage the project. There’s too much technology to keep track of. Once you decide on the systems you need, find one company that can provide everything and leave the job to them.
• Remember the physical limitations and advantages of the building. Try to use the structure’s attributes to your advantage.
• Increase the building’s power supply to handle the new equipment and additional air conditioning necessary.
Buyers & sellers,
visit www.texasrealestate.com.
REALTORS®, visit www.tar.org.
