People understandably focus on basic numbers during tenant improvement negotiations. They're looking at the rental amount per square foot, the size of the space, and the amount of the TI allowance. However, other smaller often-overlooked details can actually have greater financial implications. Many times these seemingly small details can outstrip whatever dollar or two you [...]
Besides your rent, tenant improvement costs are typically the second most expensive part of any lease. Tenant improvement allowances can sometimes equal 6 to 12 months of rent or even more. What you can do with one dollar in one building or location might not be possible in another. If you want to make out [...]
Office remodeling is a necessary expense for commercial landlords looking to attract or retain tenants. However, far too often, these renovations aren't handled correctly. Costly missteps are made with many office remodels that are completely avoidable with proper strategy and planning. Here are five tips to successful office remodeling in Los Angeles, Ventura, and Santa [...]
There are many things to take into consideration when negotiating a commercial lease or renewal. The leasehold allowance - also known as the tenant incentive, tenant inducement, or TI money - is one of the most important. This is the amount of money a landlord gives a tenant for leasehold improvements or customizations to the [...]
A landlord's tenant improvement allowance is intended to incentivize a prospective tenant. But how much TI allowance a tenant is offered varies based on several factors. Here are a few things assessed prior to a landlord's TI allowance offer. Tenant's Credit Strength Any experienced landlord will carefully consider a tenant's credit strength. Landlords will often [...]
Mistakes happen but making a mistake during lease & tenant improvement negotiations can be costly for any small to medium-sized business. This YouTube video looks at five common yet preventable mistakes to watch for when looking for a new commercial space, negotiating or renewing a lease, or agreeing to a tenant improvement allowance. There's an [...]
Cell phone providers like T-Mobile or Sprint will sometimes pay a prospective customer's cancellation fee to get them out of their current deal and into a new contract. Auto dealerships often have "No Money Down!" promotions. These are called incentives. In commercial real estate, a tenant improvement allowance (TIA) is a similar type of incentive. [...]
You've negotiated tenant improvements and signed your lease agreement. Now it's time to find a commercial contractor in Los Angeles to start your project. Choosing the right Los Angeles area commercial construction company to work with is pivotal to your project's success. You'll need meticulous construction planning, cost estimates, project management, and skilled/experienced laborers. Here [...]
A tenant improvement allowance (TI allowance) typically sounds great when first presented. The landlord agrees to reimburse the tenant a portion of the costs of any improvements or buildouts needed for them to move into a space. However, be cautious prior to signing a lease and binding yourself to TIA terms. Tenant expectations often differ [...]
The Southern California region is filled with a lot of companies - each doing whatever they can to stand out and separate themselves from the pack. When it comes to making a great first impression on a prospective client or customer, many companies rely on their staff to turn on the charm. While you definitely [...]
