{"id":4532,"date":"2017-01-13T15:15:34","date_gmt":"2017-01-13T23:15:34","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=4532"},"modified":"2017-01-20T13:35:56","modified_gmt":"2017-01-20T21:35:56","slug":"polish-your-commercial-property-to-a-shine-earn-more","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/01\/polish-your-commercial-property-to-a-shine-earn-more\/","title":{"rendered":"Polish Your Commercial Property to a Shine &#038; Earn More"},"content":{"rendered":"<p style=\"text-align: justify;\">2016 wasn\u2019t a stellar year for the US commercial property market. External trends, from disappointing growth in China to the United Kingdom\u2019s shock decision to leave the European Union, probably dampened investor sentiment during the first three quarters of the year. So too did the emerging consensus among US-based real estate observers that, hotspots aside, the US commercial real estate sector has hit a near-term top.<\/p>\n<p style=\"text-align: justify;\">In a challenging \u2014 if not dire \u2014 commercial real estate environment, what can property owners do to maximize their return on investment and squeeze more cash out of their holdings?<\/p>\n<p style=\"text-align: justify;\">Why, what they always do when the going gets tough: turn over a new leaf.<\/p>\n<p style=\"text-align: justify;\">These five projects can polish your commercial property to a bright shine that prospective lessees can\u2019t help but notice. Though all require some upfront or ongoing investment, they\u2019re likely to pay for themselves \u2014 and then some \u2014 on the back end.<\/p>\n<p style=\"text-align: justify;\"><strong>1. Switch Out Old Lighting<\/strong><br \/>\nStill getting by on incandescents and old-school fluorescents? Those are illegal some places, you know. They\u2019re also really inefficient. Next weekend, spend a few hours (or pay your crew to do the same) changing out inefficient old lighting for spiffy new LEDs. Depending on your building\u2019s size and tenant demand, you\u2019ll save hundreds or thousands off your electricity bill next year.<\/p>\n<p style=\"text-align: justify;\"><strong>2. Upgrade the Roof<\/strong><br \/>\nHow old is your building\u2019s roof? Do you even know?<br \/>\nMaybe your roof\u2019s age is on the property inspection report you commissioned before closing. But maybe not. And such reports are rough estimates at best, anyway. If your roof is showing its age in any discernable way \u2014 cracked tiles, missing shingles, peeling rubber, sagging depressions where water can pool \u2014 it\u2019s time to rent a dumpster, rip the whole thing out, and install a new roof that you won\u2019t have to worry about for years or decades. And don\u2019t worry about the cost: a new roof is a time-tested resale value booster.<\/p>\n<p style=\"text-align: justify;\"><strong>3. Invest in Better Broadband<\/strong><br \/>\nUnless you\u2019re a fiber geek, your property\u2019s Internet connection is almost certainly behind the times. Business tenants (and, increasingly, residential gamers and streaming addicts) hate slow connection speeds. Research super-fast options in your area, like Google Fiber. If none are available, pay your cable or municipal utility the extra $30 to $50 per month for premium broadband.<\/p>\n<p style=\"text-align: justify;\"><strong>4. Enhance the Lobby or Entryway<\/strong><br \/>\nFirst impressions matter. Even if your building\u2019s lobby or entryway lacks the space or bones to accommodate lingering guests, it can\u2019t be actively unpleasant to hang around. Repaint, add comfortable seating and functional tables, throw out some magazines, mix in a potted plant or two, and do whatever you can to let in more natural light.<\/p>\n<p style=\"text-align: justify;\"><strong>5. Add Cost-Effective Amenities<\/strong><br \/>\nSounds expensive, no? Just start slow, stay within budget, and make sure your additions actually add value. If your property is a multifamily residential structure, sketch in a cozy fitness facility with outside views. If it\u2019s a midsized business center, add in a daycare facility (or earmark an empty suite for a daycare tenant). If it\u2019s a mixed-use mid-rise, find a chef-driven restaurant or upscale coffee house. The sky\u2019s the limit.<\/p>\n<p><a href=\"http:\/\/realtybiznews.com\/polish-commercial-property-shine-earn-5-easy-ways\/98737310\/\" target=\"_blank\">Polish Your Commercial Property to a Shine &amp; Earn More \u2014 5 Easy Ways<\/a> by Realty Biz News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>2016 wasn\u2019t a stellar year for the US commercial property market. External trends, from disappointing growth in China to the United Kingdom\u2019s shock decision to leave the European Union, probably &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2017\/01\/polish-your-commercial-property-to-a-shine-earn-more\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-4532","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Polish Your Commercial Property to a Shine &amp; Earn More &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2017\/01\/polish-your-commercial-property-to-a-shine-earn-more\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Polish Your Commercial Property to a Shine &amp; Earn More &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"2016 wasn\u2019t a stellar year for the US commercial property market. 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