Tenant Improvements - Everything You Need To Know
Learn Commercial Real Estate Commercial Leasing Happy new week! This week we are covering Tenant Improvement Allowances. AKA Tenant Improvements = TI OR TA ( I use TI) A Tenant Improvement Allowance is money provided by a Landlord to a Tenant to help pay for improvements needed in their new business space. It may also cover expenses associated with getting started in the new space. It is usually expressed in a per-square-foot or total dollar sum. The specific Tenant Improvement request begins in the Letter of Intent. Tenant Improvements will be negotiated and solidified during Lease Negotiations. Tenant Improvements are a big part of commercial leasing. As either a Landlord Rep or Tenant Rep, understanding Tenant Improvements can literally change...