Property Management
A 'turnkey' commercial tenant improvement describes:
AA. A lease where the tenant builds out the space at their own expense
BB. A situation where the landlord builds out the space to the tenant's specifications before occupancy✓ Correct
CC. An arrangement where maintenance is handled by the tenant
DD. A lease that automatically renews
Explanation
In a turnkey build-out, the landlord constructs all tenant improvements to the tenant's specifications, and the tenant moves in when the space is ready. The tenant 'turns the key' and begins operations without construction responsibilities.
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