Summary:
Still having doubt about signing that preferred developer agreement? The ideas below provide a high-level overview of the benefits of employing a pro.
You would only want to fly in a plane with a professional pilot, wouldn’t you, even if you had taken one or two lessons? Well, established shops frequently turn to a preferred developer with whom they have found a relationship of trust and continued business over the years when they want to roll out expansion plans or enter new areas.
The top three advantages of using a preferred developer for your build-to-suit development or renovation are listed below.
Reduced Risk
You can believe that working with a favored developer means you lose too much control, yet you might not even be aware of all the drawbacks. Developers manage the entire process, from site selection to your occupation, by determining the project’s economic viability early on, thorough market analysis, and much more.
It’s also vital to remember that a reliable developer might be helpful to lessen the impact of any problems that arise, particularly if you’re entering a new, unfamiliar market.
Enhanced Effectiveness
Trusting an expert can help you save time, which is equivalent to money. For instance, dealing with several parties would be avoided in favor of a single point of contact. Managing your development projects requires adding expensive back office staff instead of taking resources away from your business activities. Legal fees, modification orders, and supplementary environmental assessments are some more cost examples.
A chosen developer keeps the cost of the land down and gives you a guaranteed rent amount. Here are some other situations where using a preferred developer makes sense.
Budget Compliance
Preferred developers have enough experience because it is their main line of work, and they have seen it all. If unanticipated cost overruns happen, the developer will keep you informed frequently and want to continue being your “go-to” by covering the expense so that it won’t exceed your pre-agreed rate.
If you engage someone to do what they do best, you can concentrate on what you do best.
The aforementioned benefits of hiring a professional over tackling it alone are only briefly mentioned above. Check out the comprehensive guide to dealing with a preferred developer below if you still have questions about what to anticipate before signing that preferred developer agreement.
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