Tenant build outs are very common components of property lease agreements, but they still raise lots of questions – here are a few of the most commonly asked ones:
- What type of buildout should you choose – the two most common forms of build out are interior improvements, aimed at transforming the interior of the leased space to meet the tenant’s business needs and exterior improvements usually handled by the landlord and aimed at preparing the space for the tenant, cleaning the space and repairing whatever needs repair;
- Who manages the build out process – the management of the buildout process is usually the tenant’s responsibility, while the payment for the improvement work is made by the party stipulated in the lease agreement, either by the tenant or by the landlord;
- Duration-related questions – the time frame for the build-out is essential for the tenant as well as for the landlord. The completion deadlines need to be negotiated and the contracting parties need to be on the same page about this aspect before signing the agreement. The contract needs to include remedies for either of the parties in case the other part fails to hold up their end of the deal – each day of delay costs money. For best results and a great contractor call https://www.jntdevelopers.com/dallas-commercial-and-tenant-build-outs/.