Property Management
What is a tenant improvement allowance (TI allowance) in commercial leasing?
AAn allowance for tenant repairs of damages
BMoney provided by the landlord for the tenant to customize or improve the leased space✓ Correct
CA reduction in rent for tenant maintenance
DA bonus for long-term tenants
Explanation
A TI allowance is a sum provided by the landlord to help tenants customize the commercial space to their needs. It may be used for construction, fixtures, or finish improvements.
People Also Study
Related Ohio Questions
- In Ohio commercial leasing, a 'tenant improvement allowance' (TIA) is:Property Management
- What is a build-out (tenant improvement construction) in commercial leasing?Property Management
- In Ohio, a landlord who charges a higher security deposit to tenants based on their national origin is engaging in:Fair Housing
- In Ohio, a 'holdover tenant' who continues to occupy commercial space after lease expiration may be treated as:Property Management
- In Ohio, when joint tenants hold property with right of survivorship and one tenant dies, their interest:Property Ownership
- Under Ohio law, how much written notice must a landlord give a month-to-month residential tenant before terminating the tenancy?Property Management
Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Study This Topic
Practice More Ohio Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Ohio Quiz →