Property Management
In commercial property management, a 'build-out allowance' or 'tenant improvement allowance (TIA)' represents:
AThe tenant's right to expand the leased space
BFunds provided by the landlord for the tenant to customize the space to their specifications✓ Correct
CA credit given to the tenant for bringing new subtenants
DThe maximum amount the tenant may spend on improvements
Explanation
A tenant improvement allowance (TIA) is money provided by the landlord as an incentive, allowing the tenant to build out or customize the space. It reduces the tenant's upfront cost and is a key negotiating point in commercial leases.
Related Tennessee Property Management Questions
- A gross lease is one in which:
- In Tennessee, the URLTA requires that a landlord provide a tenant with written notice of:
- In Tennessee, a property manager who collects rent and manages properties for others must hold:
- Which type of lease provides the most security for a tenant in terms of rent predictability?
- Under the Tennessee URLTA, a landlord must return a tenant's security deposit within how many days of lease termination?
- In Tennessee, a tenant who abandons a rental unit without notice leaves the landlord with the duty to:
- In Tennessee, when a tenant gives notice to vacate, the landlord should:
- A 'holdover tenant' is one who:
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →