May 10, 2018
How to Monetize your Building Faster with Modular Construction
With current vacancy rates for rental properties around 7%, building owners want tenants to occupy their space in as little time as possible. By working with a modular construction company, building owners have the opportunity to enhance their ROI and begin monetizing faster than ever before.
Quicker construction: with traditional construction methods, it can take a week or more to build out the structure of a floor and progress is dependent on many factors outside of the contractors’ control (including but not limited to weather). Once the structure is complete, fitting out starts, which can take years. With modular construction, you can build a complete floor per day and even if the site is rained out the plant keeps working; you never should worry about a rain out –because you work in an environmentally controlled work space.
Elimination of multiple trades: in traditional construction, multiple trades have to work consecutively with one another to get a job done – one trade has to finish up before the next group comes in. For instance, with a bathroom you need plumbers, electricians, painters etc; but in a tight space, they need to work one after the other. In the modular construction world with a controlled workspace, there might be multiple bathrooms being worked on so each trade can do their part and not impede the progress of the other. This faster turn-around time helps to get your property finished sooner so you can realize your ROI.
Insurance Costs: At the job sites, there are a lot of risks to take into account – since you are in the elements, not everything can be controlled and therefore, your insurance costs are going to be higher. With modular construction in a controlled manufacturing facility, there is more control with each stage of the process – safety is improved to the workers; you don’t have to factor in additional insurance that would in traditional construction.
At Z Modular, we are available to work with you on how to monetize your new space faster than before.