{"id":951,"date":"2024-10-27T00:00:00","date_gmt":"2024-10-27T07:00:00","guid":{"rendered":"https:\/\/crecalculator.com\/faqs\/?p=951"},"modified":"2024-10-27T00:00:00","modified_gmt":"2024-10-27T07:00:00","slug":"cre-terms-to-know-under-renovation","status":"publish","type":"post","link":"https:\/\/crecalculator.com\/faqs\/cre-terms-to-know-under-renovation\/","title":{"rendered":"CRE Terms to Know: Under Renovation"},"content":{"rendered":"<p>A building is typically under renovation when construction permits have been obtained and demolition has begun. A building is under renovation if it remains inhabitable by tenants during the construction. If an existing building is gutted extensively (i.e., elevators and bathrooms do not function and it can, therefore, not be occupied by a tenant), then the building should be removed from inventory and redelivered when the occupancy permit is issued.<\/p>\n<p>Learn more at <a href=\"https:\/\/www.naiop.org\/education-and-career\/industry-terms-and-definitions\" target=\"_blank\" rel=\"noopener\">https:\/\/www.naiop.org<\/a><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/source.unsplash.com\/featured\/?commercial-real-estate\" alt=\"Commercial Real Estate\" width=\"800\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A building is typically under renovation when construction permits have been obtained and demolition has begun. A building is under renovation if it remains inhabitable by tenants during the construction. If an existing building is gutted extensively (i.e., elevators and bathrooms do not function and it can, therefore, not be occupied by a tenant), then &#8230; <a title=\"CRE Terms to Know: Under Renovation\" class=\"read-more\" href=\"https:\/\/crecalculator.com\/faqs\/cre-terms-to-know-under-renovation\/\" aria-label=\"Read more about CRE Terms to Know: Under Renovation\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-951","post","type-post","status-publish","format-standard","hentry","category-commercial-real-estate-definitions","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CRE Terms to Know: Under Renovation - Commercial Real Estate Valuation Calculator FAQs<\/title>\n<meta name=\"description\" content=\"Commercial Real Estate Valuation Calculator FAQs - 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