Purchasing a residential or commercial property and improving it for resale is a common business practice that realtors follow to make money. But management of rental property until you find buyer for it or find tenants to rent it or lease it out for a specific period of time, is not an easy task. You have to find tenants, organize lease agreements, handle requests of renters to make improvements on the property and then make profits from the deal. The easiest way to control expenses on rental property before reselling is to have a trusted contractor that specializes in maintaining residential properties, but here are some smart ways to control these expenses.

Electrical and plumbing systems

If you have little knowledge about electric and plumbing systems, then take an expert with you when you want to buy a property for resale. Ensure that required repairs are at a minimum and you can resell the house at a good profit keeping in mind local real estate market conditions. Most houses need basic repairs especially plumbing, but some may be extensive so be careful.

Managing maintenance expenses

If the house has a large lawn around the property which has to be maintained, then get it mowed just before you take a prospective buyer to the place instead of wasting money on a regular basis. Try to dispose of this kind of high maintenance properties at the earliest by putting up a sign board on the lawn and also advertising heavily on real estate websites including your own.

Keep the repainting neutral

No one wants to walk into a drab looking house, so get the house repainted once the previous owner moves out. Paint everything from walls to ceiling including doors, windows and closets with neutral colors like beige or cream, which will make give the interiors a warm glow and increase its appeal. Having a single color all through the house saves money if you are dealing in low cost properties and will make the property look good as new.

Fixtures and flooring

Buy a property only if it has minimal flooring repairs as these are expensive. If the property has fancy tiling it may be expensive to replace. While replacing broken fixtures like taps, door stops, handles look for nickel ones as these are hard and do not require regular polishing or high grade maintenance.

Ensure that your house complies with local standards of safety and building codes with regard to security alarms and smoke detectors, which will protect your investment until you get a good buyer.

Once you do buy a property and are ready to renovate, contact us for a free construction estimate.

The lighting market is undergoing a period of rapid technological changes with new techniques like LED, OLED that are providing new possibilities for customers for lighting up their homes and commercial spaces. In both small and large offices all work depends on teamwork of perfect illumination, color reproduction and efficiency of energy. Today’s offices are a mix of open and closed floor plans, wherein the managerial staffs have cabins and rest of the staff works in an open office with individual cubicles and workstations. Other closed areas of an office are conference areas and meeting rooms which have projectors, boards and other paraphernalia and are usually lighted up only on specific occasions.

Lighting system in an open plan office

Open plan office allows optimum dispersion of light and intelligent light system can be used to manage its requirements in an energy efficient manner. Light management using a mixture of recessed light fixtures, track lights and natural light can be used to complement the layout and structure of the office. Lighting installation in the open area can be a mix of track lights above workstations to provide pleasant work atmosphere and increase productivity. If the office is on a top floor then try to install skylights to allow natural light on bright days which are inexpensive and save energy.

The areas that are used less like corridors between open spaces to the managerial cabins can be energy saving halogen lights or fluorescent lamps.

Conference rooms are the power zones of every office, where customers are welcomed and presentations are made for teams, hence the layout should be kept as flexible as possible.

Recessed lighting on the far edges will ensure sufficient brightness with white light applications in the center section above the display area and conference table, which will create a holistic approach to lighting.

Lighting in a closed office

In a closed office with small cubicles, glass or fiber separators usually cut off natural light from windows, so ceiling lighting will be ideally suited to keep the place bright and cheerful throughout the day. Recessed lighting is possible only when the ceiling is low as light can be directed to workspace. At every office, the entrance and reception area create the first impression for prospective customers and these have to be warmly and brightly lit, without being too garish. Efficient LED with brightness controls are best suited for this area as it can be dimmed during daytime and increased during the late evening hours.

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For small start-ups looking to renovate their spaces or mid or large companies looking to add a fresh look to their fading office space, there are many similar concerns before you can begin your renovation project. Here are some factors that you should keep in mind before you begin renovating:

Budget

Whether you are a small company or large organization, the first step to a new office look is deciding the budget. A large organization may have bigger budget to renovate, but you need to decide precisely what you are willing to spend. The amount should also include a buffer amount to accommodate any problems or delays.

The step of budgeting is also useful in deciding how extensive the renovation process can be or if you lack adequate funds and should put off the renovation process till later.

Scale

Renovating office space does not have to mean gutting the space and starting from scratch. There are many different ways and scales of renovation. A simple renovation can be done by adding a coat of paint to the walls and refurbishing the chairs. A more elaborate renovation could call for new windows and floors in addition to the paint and new furniture. The level or scale of renovation depends on the budget and the end look you are trying to achieve.

Work and employees

Shutting down the office to conduct the renovation is not possible unless you have temporary facility to move your employees or a remote work solution that allows employees to work from home. Companies can speak to their designers or construction companies to rent a temporary location until the renovation is completed. They could also try and schedule all renovation work around holidays.

Designers and construction companies

Designing your own office space in order to save cost is a tempting idea. Resist this idea. Trained professionals can help you maximize your office space. They can help you create a comfortable and efficient workspace that employees will appreciate. They can also help you add touches that will reflect your brand image and identity. These will help reinforce your brand to every client and customer that visits your office.

If you are sure you need to renovate, but are unsure how to go about the renovation process, a designer and a construction company can steer you in the right direction by informing you of the latest trends. Use these tips and ideas to renovate your fading office space into a modern stylish space.

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Retailers of luxury brands and products have to offer more than high quality products and great customer service, they need to persuade customers to enter and buy by offering the perfect retail experience, which means having the perfect retail space is essential to the sales process.

When creating the perfect retail environment for a luxury boutique, you should remember the following:

Showcase lifestyle

The boutique or shop should not just showcase your products, it should showcase a lifestyle that customers aspire to achieve or are accustomed to. This type of environment will help ensure that the boutique doesn’t act as a showroom while an online retailer gains the sale.

A luxury sales environment should combine the latest style with elegance. The unique environment should be supplemented with amazing customer service. For example, a luxury boutique should not have the same style as a mall or chain retail store.

Go green

Consider making eco-friendly fabrics and organic materials as part of the interior. Many top brands are already using these eco-friendly materials successfully. For example, brands like Prada and Salvatore Ferragamo have transformed their Ukraine and Fifth Avenue location to have beautiful new green interiors.

Consider joining the green trend by using natural finishes and textures for flooring and furniture. Combine it with glass or metal shelving for an elegant or modern look.

Ambiance and atmosphere

Luxury boutiques shouldn’t have the hustle and bustle of retail stores. Strive to create an environment that is serene and soothing. It will help you create an experience and project an image for the brand.

Artfully display merchandise while maintaining a spacious look and feel.

Make sure the inventory is well organized and the store is impeccably clean.

Use natural lighting wherever possible. Use low lights to showcase specialty items or featured products.

Use small, clear lettering on any and all signs.

Choose quality furniture with simple lines. These pieces could incorporate natural materials, glass or steel.

Play music that is brand appropriate. For example, playing rock in a jewelry store will not entice customers to buy a ring. Soft romantic music will put them in the right frame of mind to buy.

Customer service and customer relationship management

The key to a perfect retail environment is friendly sales people. Hire the best salespeople you can. Add to the experience with a CRM system that integrates customer’s online and offline information, which ensures that every returning customer feels valued.

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As time passes, your once vibrant store may begin to lose its vibrancy. The paint becomes dull. The furniture begins to look old. The employee areas begin to look dingy. You need to remodel your store to regain its former glory. After all, your retail space creates an impression. A fresh and vibrant store with plenty of open spaces will appear open, friendly and safe to customers. A worn out look creates a negative impression even before the customer browses through the store.

The only question is how? What measure should you take? What should be replaced and what should be refurbished?

Here are some tips that will make the remodeling easier:

Brainstorm for ideas: Spend some time looking at design magazines and scoping out different retail spaces to gain an understanding of design elements you like. This will give you an idea of what is available and what you would like to incorporate in your store. You can also speak to the contractor to find the latest trends in retail space design.

Source a reliable contractor: Find a contractor to remodel your retail space. Do not just pick up the phone book and contact the first contractor available. Ask around. Check with fellow merchants or associations to find out if they can recommend a reliable contractor. This will ensure that the remodeling is successful, within budget and within the deadline.

Always look for commercial contractors that are licensed, bonded and insured.

Space and layout: When remodeling your retail space always remember that customers scan the store as they enter. This quick scan creates an impression. An open, airy layout with accessible shelve units and comfortable aisle space encourages customers to stay and browse.

Paint:  Choose your paint wisely. Consider what type of impression you are trying to create before choosing a color or shade. Study color associations to pick the right color for your retail space. A few examples of color associations is red for hunger, green for growth and health, blue for tranquility and peace, yellow for joy and so on.

Light: Always add adequate lighting to your retail space. Dark stores do not feel safe to customers. They are less likely to enter and linger. Also use the lights to create a pleasant ambiance. Add lights into shelving units so that customers can view and examine products easily.

Also make sure dressing rooms, if any, are brightly lit.

Use these 5 tips to remodel your fading retail space into a vibrant one – and contact us for a free estimate.