Tenant Improvement Allowance (TIA): Get Your FAQs Answered
When leasing a new commercial space, whether office, warehouse, or retail outlet, modifications are often needed to suit your business needs. These changes, called Tenant Improvements (TIs), range from simple renovations like new flooring or painting to major upgrades such as HVAC systems and additional sections. The expenses incurred to make the newly leased building fit for running your business are covered under the Tenant Improvement Allowances (TIAs), forming part of the rental lease agreement with your landlord. In this article, we will explain to you the nature, extent, and coverage of the Tenant improvement allowance. You will get in-depth answers to the frequently asked questions about TIAs in the commercial real estate industry.