A Special Kind of Tenant Build Out
Tenant build out is usually a cut and dry process: choose between stated dollar or turn-key build out, negotiate allowance, negotiate extras, sign a lease. However, when it comes to dental practices, you need a little more consideration. Any regular office can essentially be drag-and-dropped into a new space with little issue. A dental practice has something other places don’t: an intricate infrastructure. You can’t just drop chairs and sinks into any space, you have to move walls, floors, install the plumbing, and then build upon that. Smartland understands this and we can help when it comes to making a decision on your build out allowance.
Turn-Key VS Stated Dollar Build Out
The first thing you should know as a dental practice owner is the difference between turn-key build out and stated dollar build out. The second thing is that you should choose stated dollar.
Turn-key gives the landlord the responsibility of paying for the entirety of the build out. This sounds like a dream come true. However, this also gives all of the control to them as well. They decide the materials that will be installed, the construction contractors to build it, and the allocation of financial resources. Landlords are like everyone else: they want to save money. This will most likely lead to the cheapest materials being used by the contractor with the lowest price while staying under budget. If you didn’t negotiate to keep the leftover allowance you’re going to lose out on those assets.
By choosing stated dollar build out, you and the landlord come to a set amount to spend like a budget. Any extra or hidden costs are going to come out of pocket and every decision is left up to the tenant. The landlord pays nothing beyond the set dollar amount and if it is exceeded, they are not obligated to increase the stated amount or contribute. This may seem daunting but it also leaves you with the majority of control. You choose the materials, the scope, and the design. This will let you ensure the materials you buy are of high enough quality, you are aware of everything going on, and you are aware of everything going into your build out. Among the things in your control is which construction company to go with. That’s where Smartland comes in.
We’re With You Every Step
At Smartland, our design build process for tenant build out keeps you in the loop and saves you money. By contracting us, we will work hard to provide everything necessary. We consider all materials and find the best quality for the best prices to get you the most bang for your buck. Also, we never subcontract out. You won’t be hit with extra fees or higher prices by us hiring out. We manage all of our projects, meaning we can be your one point of contact for the entire process. Smartland also specializes in dental office design so we know what we’re doing. Remember how dental practices are special? We know the ins and outs and all the needs of a dental office. Choosing Smartland with your stated dollar build out means maintaining control over every step in your build out while using your allowance as efficiently as possible.