Tenant Improvements (TI) for Office or retail space by Omega Contracting

Tenant Improvements (TI) for Office and Retail Space

Commercial or Office Tenant Improvements (TI), aka Tenant Finish or Leasehold Improvements, are the custom alterations a building owner makes to a commercial rental space (office, retail, restaurant, or warehouse) as part of the lease agreement in order to design and configure the space for the tenant.  The decisions and choices made here are important since the tenant has the ability to request specific improvements or a specific TI budget provided by the landlord in order to fulfill the tenant’s needs.

Tenant Improvements and Budgets

Omega Contracting and Consulting works with building owners and tenants for this build-out to modify existing space to accommodate not only the building owner but also the tenant. This process begins with a Preliminary Construction Bid, then moves to the design and build-out phase.

From the tenant’s standpoint, it is important to understand the total cost of desired improvements before signing the lease agreement because many lease agreements will cap the construction improvement costs paid by the Landlord.  In this case, Omega provides the tenant with a preliminary construction bid before signing a lease.  This gives the tenant an idea of the total finish-out cost first, and the ability to adjust design options to fit the TI budget.

Who Pays For Tenant Improvements?

In a commercial lease, the building owner or landlord pays for the improvements made to the existing space.  The first step is to determine the TI Allowance, which is the money the building owner allows the current tenant to spend on improvements.

TI allowance is stated in the lease agreement and is paid for by the building owner or landlord.  If the improvements exceed the agreed-upon TI allowance, that difference is paid for by the tenant.

Hire A TI Expert

Before you hire any construction company, it is important to make sure the company has a good reputation and has experience in the area necessary.  Omega Contracting has years of experience working with some of the biggest brands in the business as you can see in our Project Gallery. 

Tenant Improvements (TI) office rendering by Omega Contracting

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