🏢 Property ManagementModerateAlso: TI, Tenant build-out, Leasehold improvement
Tenant Improvement (TI)
Definition
Tenant improvement refers to customizations or renovations made to a rental space to meet a tenant's specific needs, typically in commercial real estate with a TI allowance budget.
Common Questions
Real-World Example
A commercial landlord offers a $15,000 TI allowance and CRM Services handles the build-out.
Why It Matters
TI projects are high-value engagements, especially in commercial property.
Related Services
Related Terms
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Work Order
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Capital Expenditure (CapEx) vs Operating Expense (OpEx)
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Make-ready
Make-ready refers to getting a rental property cleaned, repaired, and prepared before a new tenant m...