What if someone gave you $50 per square foot to remodel your home?

Would you redo your kitchen?  What about your bathrooms?  Add on a sundeck or a swimming pool?  And why would someone just give you that kind of cash, never expecting to see it again?

In the world of residential real estate, this concept may sound kind of crazy, but in the world of office leases, tenants are routinely given hundreds of thousands or sometimes even millions of dollars to build out the interior of their office space prior to starting a new lease.  Known in the industry as a tenant improvement allowance, or “TI” for short, this seemingly large dollar amount goes faster than you may think, even if you have been through the process before.
Continue reading

Advertisements