Tenant Improvement Allowance

A Tenant Improvement Allowance (TIA) is a sum of money provided by a landlord to a tenant to help cover the costs of customizing or renovating a rented commercial space to meet the tenant's needs. This allowance can be used for things like building partitions, installing new finishes, or upgrading electrical systems. The amount and usage of the TIA are typically outlined in the lease agreement. It allows tenants to create a functional and appealing work environment without bearing the full financial burden of the improvements themselves.