A TI Allowance is a huge selling point for both tenants and commercial property landlords. The landlord is looking to attract a desirable tenant with a sweet deal to renovate the space to accommodate their specific wants or needs. The tenant is looking for a space that won’t require much out of pocket expenses to customize for their use. A space that can help them attract the best and brightest employees with some type of financial support from the landlord for necessary improvements or buildouts. But while a TI Allowance seems great on the surface, is the tenant’s best interest always represented? Not necessarily. In this YouTube video, H.W. Holmes, Inc. summarizes a few things tenants should be cautious of when negotiating a lease with a TI Allowance.
In this YouTube video you will learn the following:
- What Is a Tenant Improvement Allowance?
- What’s The Average Cost Per Square Foot of a TI Package?
- Does a High Dollar TI Allowance Always Benefit the Tenant?
- Why the Tenant Needs to Make Sure The Landlord Takes Bids for ALL Work
- Why Pay Attention to the Landlord’s Construction Management or Oversight Fee
- Why the Building’s Needs Must Be Kept Out of the Tenant Improvement Allowance
- Why Change Orders Need to Be Addressed in the Lease Agreement
- Why Concealed Conditions Must Be Addressed in the Lease Agreement