Every lease agreement will contain a section for tenant improvement allowances – a set amount allocated by the landlord for build out, retrofit, or new construction to suit the new tenant’s needs. The amount provided is dependent on various factors, including length of lease, overall cost, and size of the tenant’s company, but prospective tenants have a few opportunities at the negotiation phase to better determine who will pay for necessary upgrades and retrofitting required before you take possession of the property.
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