TI work, or tenant improvements, refers to money that a landlord provides to modify a rental space for the tenant's needs. For example, if a business needs additional offices or a break room for their employees, and the landlord agrees to pay for these improvements, those projects would be considered TI work.
What does TI stand for in property?
A tenant improvement, or TI, refers to the improvements a commercial property owner makes to the interior of a rental space in order to suit the needs of a new tenant. A leasing commission, or LC, is an amount paid by the owner of the property based on a percentage of the lease value.
What is a TI project architecture?
A Technology Infrastructure (TI) Architecture is all about the hard IT. Hosting, capacity, connectivity, monitoring and operations. Having a flexible TI architecture serves all business processes. Creating a simple overview of your systems is key for understanding.
What is TI in project management?
Commercial lease negotiations include the tenant improvement (TI) allowance. This is money provided by the landlord to build-out or retrofit the existing space so that it works for the tenant's intended use.
What is the tenant installation allowance?
Tenant Installation Allowance refers to an allowance afforded to the Tenant by the Landlord in order to fit out and modify a leased space to make it more suitable to the Tenant's specific needs. This allowance is typically used for carpets, tiles, partitioning, electrical/IT work and painting.
What does TI mean in construction?
The real estate definition of a TI (tenant improvements) is the customized alterations a building owner makes to rental space as part of a lease agreement, in order to configure the space for the needs of that particular tenant. Who pays for commercial tenant improvements?