Defines the fixed amount of money contributed by the landlord toward tenant improvements. The tenant pays any of the costs that exceed this amount. Also commonly referred to as "Tenant Finish Allowance.
Improvements to land or buildings to meet the needs of tenants. May be new improvements or remodeling, and be paid for by the landlord, tenant or part by each.
Improvements made to a rental unit by a landlord for the benefit of a tenant. Such improvements are capital expenditures, not repairs.
Improvements made to a property for the specific needs of the tenant. Usually refers to the interior construction and finishes of the demised premises such as drop ceilings, light fixtures, partitions, doors, floor coverings, outlets, etc. Also referred to as "tenant finishes" or "leasehold improvements".
Improvements made by the tenant/lessee. See also "Leasehold Improvements".
The interior finished components of a tenant space that may be installed either by the lessor or lessee.
Improvements made to the leased premises by or for a tenant. Generally, especially in new space, part of the negotiations will include in some detail the improvements to be made in the leased premises by the landlord. See also “ Leasehold Improvements”, “ Workletter”.
Physical improvements to a tenant's space that may be paid for by the landlord or the tenant.
The expense to physically improve the property to attract new tenants to new or vacated space which may include new improvements or remodeling. It may be paid by tenant, landlord, or both. Typically, tenants are provided with a market rate TI allowance ($/sq. ft.) that the owner will contribute towards improvements. The tenant must pay for amounts above the TI allowance desired by the tenant.
Improvements to land or buildings to meet the needs of tenants. May be new improvements or remodeling, and may be paid for by the landlord, the tenant, or shared. See also "Leasehold Improvements"; "Workletter".
Indicates whether the tenant has the right to make improvements to the property and the extent to which the landlord will allow such improvements.
Renovations and remodeling done by a tenant to prepare for occupancy of the leased space.
Work done on the interior of a space that can be paid for by landlord, tenant, or some combination of both, depending on the terms of the lease.
Changes, typically to office, retail or industrial property, to accommodate specific needs of a tenant. Include moving interior walls or partitions, carpeting or other floor covering, shelves, windows, toilets, etc. The cost is negotiated in the lease.
TI The expense to physically improve the property to attract new tenants to new or vacated space which may include new improvements or remodeling. May be paid by tenant, landlord or both. Typically, tenants are provided with a market rate TI allowance ($/sq. ft.) that the owner will contribute towards improvements. Amounts above the TI allowance that the tenant wants must be paid for by the tenant.
