Property Management
A commercial tenant's 'build-out' (tenant improvement) allowance in a lease means the landlord:
AWill build the improvements and retain ownership forever
BProvides funds for the tenant to customize the space to their business needs✓ Correct
CRequires the tenant to restore the space after the lease ends
DCharges extra rent to cover improvement costs
Explanation
A tenant improvement (TI) allowance is money provided by the landlord to help the tenant customize the leased space for their specific needs. It is often a key lease negotiating point.
Related Georgia Property Management Questions
- A property manager in Georgia accepts a security deposit of $2,000. The manager must:
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- A landlord who enters a tenant's rental unit without notice (except in emergencies) in Georgia may be violating:
- A property manager's primary duty is to:
- A management agreement that gives the property manager the authority to sign leases on behalf of the owner creates a:
- A CAM charge in a commercial lease refers to:
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- A landlord who receives a security deposit in Georgia must:
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