Tenement Buildings

How to find a construction company for building renovation

11/07/2026 · Výkupy.eu

A tenement building renovation is a contract worth millions to tens of millions — and choosing a construction company is a decision that determines whether the project profits or buries you in change orders and lawsuits. Here is the process we use to select contractors.

1. First, project and specification, then requests for quote

Biggest mistake: calling firms asking "how much would tenement building renovation cost." Without project documentation and specification you get incomparable estimates that will swing by tens of percent in reality. Correct order:

1. Building survey — structure, roof, moisture, utilities. For houses from the turn of the 19th/20th century, expect surprises; a survey costing tens of thousands saves millions.
2. Project documentation from an architect with experience in apartment buildings — including a solution for heritage protection if the building is in a protected zone.
3. Specification and bill of quantities — a document contractors fill in with unit prices. Only this way do you get comparable offers item by item.

2. Where to find contractors

References from similar projects are the gold standard — ask building managers, homeowner associations, and investors in your city who renovated their building, and view completed work. Industry catalogs and associations (ČKAIT for supervision, trade guilds) help with specialized trades. Treat quote portals only as a supplement — quality apartment building firms don't usually look for work there; they work from references.

For tenement buildings, you want a firm that demonstrably works on occupied buildings if you're renovating while in use — that's completely different logistics (phasing, apartment access, tenant communication) than vacant construction.

3. How to compare quotes

• At least 3 quotes on the same specification. Have differences in items explained — extremely low price means either an error or a plan to recoup costs with change orders.
• Verify the firm: in ARES and court (how long it exists, financial record in registry), in insolvency register and central enforcement record, references by phone from at least two prior investors.
• Capacity and team: who will be the site supervisor, how many contracts the firm manages concurrently, what's subcontracted.
• Liability insurance in an adequate amount for the value of the work.

4. Construction contract — never compromise on

• Fixed price with specification and clear change order process: written approval beforehand, unit prices agreed in contract.
• Schedule with milestones and penalties for delay — and payments tied to milestones, not calendar.
• Retention 5–10% payable after defect correction and completion.
• Warranty and service — roof, insulation and utilities 5+ years.
• Independent site supervision (TDI) — separate supervision at a percentage of work cost will repay many times over on a tenement building. Never rely on "in-house" inspection.

5. Budget a reserve

For old apartment building renovations, calculate a financial reserve of 15–20% above budget, plus a similar time reserve. Anyone who says that's unnecessary has never done a tenement building.

Don't want to manage renovation yourself? There's also a path where you put the building into a joint project and a partner manages renovation and resale — we describe it here. And if you simply want to sell the building as-is, we'll purchase it in any condition.