What Are Considered Tenant Improvements
If your strip mall, retail center, shopping center, or any other type of commercial real estate is relocating, you probably have some upgrades in mind to customize the new space to your specific business needs. For efficient business operations, these improvements are extremely important. It’s best to take the time to understand what tenant improvements are the associated TI allowance that you may be entitled to.
What Are Tenant Improvements?
In real estate terminology, tenant improvements are the commercial tenant upgrades a commercial property owner makes to rental space to configure it to the needs of the tenant. Part of the lease agreement, tenant improvements are typically paid for by the landlord in the form of tenant allowance.
The landlord agrees to pay the tenant allowance that would cover any improvements to the