Tenant build-out allowances are important components in lease contracts – many landlords provide tenant improvement allowances that make it possible for the tenant to retrofit the leased space to meet their specific needs and expectations. There are lots of important factors that need to be considered and accounted for during the tenant build-out consultation – here are some:
- The type of the build-out – the two most common build-out structures are turn-key, in which the landlord takes care of the build-out and stated dollar amount structures, in which the tenant uses the amount of money provided by the landlord to execute the remodeling work. The type of the build-out will influence the monthly rent to be paid by the tenant, therefore you must make sure that all the related questions are clarified before signing the contract;
- Details of the build-out process and insurances – the contractor that will be hired for the construction work, the project completion deadline are all essential for the success of the build-out process, so whichever build-out structure you choose, make sure you ask all the questions you can think of about the building materials used, the warranties offered by contractor like JNT Developers in Dallas are on the materials as well as on the labor and also find out about the insurance coverage provided in the policy taken out on the property.