Tenant improvement allowances (TIAs) are greatly misunderstood. A TIA isn't a cash advance. It's an agreement between the landlord and tenant where the tenant gets reimbursed for any tenant improvement construction needed. The intent of this type of tenant build-out is to customize a space for their use. The caveat, however, is certain conditions must [...]
As a tenant, most commercial spaces you tour will need some type of renovations to accommodate your needs. Perhaps a substantial facelift may even be necessary. Most landlords are willing to put in the work to ready their space for the right tenant. In fact, most are ready, willing, and able to offer some [...]
Landlords will sometimes try to give a tenant some incentive to lease an office, retail, or warehouse space. One such incentive is a tenant improvement allowance (aka TIA or a TI allowance). This is money they offer to customize the space to a tenant's specific needs. The purpose of this blog post is to help [...]
The cost of restaurant renovation can vary significantly based on the scope of the project. For instance, are you opening a restaurant in the location of a former restaurant already equipped with a functional kitchen, electrical, and gas or will you be starting from scratch with your restaurant? Where is it located? What quality of [...]
Heavy rains are in the forecast. Los Angeles and Ventura country residents, fresh from the devastation that was the Woolsey fire, are now faced with the possibility for mudslides, rockslides, and debris flowing down from the burn area's fire-scarred slopes. Downed power lines and water main breaks are possible. As are ripped up trees crashing [...]
The Woolsey fire ignited on November 8th, 2018. Home and commercial property owners in Los Angeles and Ventura counties have been through wildfires before. However, the Woolsey fire was particularly destructive. Over 96,000 acres of land burned. The fire destroyed 1643 structures and temporarily forced 295,000 homeowners out of their homes. At least 3 lives [...]
There's a saying, "out of sight, out of mind" that can be applied to many different scenarios. However, when it comes to renovating an office space, let's just say there's much more than meets the eye. What's above an office's ceiling grid is often overlooked if not completely disregarded. But modifications made below the ceiling [...]
The cost of landlord provided Tenant Improvement Allowances (also known as TIs or TIAs) are rising throughout the country. While much of this can be attributed to recent trends in office design and the overall state of the construction industry, there are other factors as well. Here are a few others: Supply & Demand Landlords [...]
When it comes to an office, every company has its own unique set of wants and needs. In this blog post, H.W. Holmes Inc. - Ventura area office tenant improvement contractors - look at a few design elements and philosophies some of the trendiest office spaces are adopting. Designated Team Meeting Rooms This is something [...]
The renewal of a commercial lease can get tricky. There's the "Should I Stay?" or "Should I Go?" component. Landlords understandably don't want vacancies. Going months without a tenant is monthly revenue they don't want to lose. This means most will do whatever they can to ensure their tenant stays. A tenant improvement allowance is [...]
