Tenant Build-outs: Making the Most of Your TIA

The tenant improvement allowance (TIA) is one of the most carefully negotiated clauses in a commercial lease agreement. It specifies the funds the landlord is willing to allocate to your alterations of the space, which then make it suitable for your business. After all, a cross fit gym has different spatial requirements than a call center or a bank. How can you make the most of the allowance for tenant build-outs and avoid unduly tapping into your own resources?

Work with Industry Insiders

While the new hotshot in the trade may have wowed other companies with innovative designs and finishes, remember that industry insiders have used their decades in the business to build relationships. These professional relationships frequently result in preferred pricing for materials and sometimes also subcontractor labor. In addition, the established builders can create an innovative look just as easily as the newcomer to the trade – but you pay less for the privilege.

Gauge Success by Timeliness

The trick to making the most of your TIA is the builder’s ability to get the project done on time. While the remodeling is taking place, you are probably already commissioning signage that specifies an opening date and placing ads that invite neighbors to your grand opening. Concurrently, you are also working to hire staff members for the location. If your builder is known for completing tenant build-outs on time (or early), you are in good hands. Check the professional’s track record before you make your selection.

Getting Started on Your Project

A successful build-out begins with a consultation. This is the time that your chosen builder will discuss your spatial needs, budget and timelines. Since customization is a key element for this type of project, be prepared to make decisions that involve the removal or addition of walls, alterations to the plumbing, and structural changes that affect sanitary drainage, fire protection and exit points. Contact us today for more information on tenant build-outs and related commercial construction.

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