5 11, 2016

Commercial Lease Acronyms That You Need to Know

2024-01-09T14:36:02-05:00November 5th, 2016|Categories: Business, Commercial|Tags: , , , , , , , , , , , , , , , , , , |

If you’re new to the world of commercial investment—there are a lot of terms, lease types and calculations you’ll need to be aware of. On top of that, everything is an acronym. Learning the lingo of the industry can be overwhelming—but it should be ranked high on your to-do list. If you’ve acquired a building and think you’re ready to start looking for a tenant, you’ll want to have the lease conditions drafted well ahead of time—but be prepared for negotiations! Here are some acronyms you should be familiar with before starting out. Building Owners and Managers Association International (BOMA):

25 10, 2016

Tenants’ Improvements and Betterments (TIBs)

2016-10-25T10:00:22-04:00October 25th, 2016|Categories: Developers, Investing|Tags: , , , , , , , , |

Tenants’ improvements and betterments (or TIBs) are when a renter makes changes to a property or building that will increase its value. As a commercial landlord, your lease should include a clause about these upgrades and how they become your property at the time of the update. These improvements could include anything from installing new carpet, adding fixtures, or even building an addition. Basically, this means that anything your tenant attaches to your building permanently becomes yours. Who Covers the Expenses of Insurance? How you go about insuring these items depends on your lease. If your tenant is responsible for maintaining the

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