{"id":40171,"date":"2021-02-23T15:20:42","date_gmt":"2021-02-23T15:20:42","guid":{"rendered":"https:\/\/blog.renovationfind.com\/how-to-maximize-your-tenant-improvement\/"},"modified":"2023-12-19T22:47:05","modified_gmt":"2023-12-19T22:47:05","slug":"how-to-maximize-your-tenant-improvement","status":"publish","type":"post","link":"https:\/\/blog.renovationfind.com\/how-to-maximize-your-tenant-improvement\/","title":{"rendered":"How to maximize your tenant improvement allowance"},"content":{"rendered":"<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-18842\" src=\"https:\/\/blog.renovationfind.com\/wp-content\/uploads\/2023\/12\/nastuh-abootalebi-JdcJn85xD2k-unsplash-2.jpg\" alt=\"\" width=\"2301\" height=\"1536\" \/><\/p>\n<p>Negotiations and understanding the process are two key parts when it comes to a successful commercial tenant improvement project. Whether you&#8217;re a tenant or a landlord, setting the right budget to ensure tenant retention and increased property value is essential.<\/p>\n<p>AMJ Construction in Vancouver offers residential and commercial renovations. They share some tips to get the most out of your tenant improvement project:<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/blog.renovationfind.com\/how-to-maximize-your-tenant-improvement\/#Understand_the_construction_and_costs\" title=\"Understand the construction and costs\">Understand the construction and costs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/blog.renovationfind.com\/how-to-maximize-your-tenant-improvement\/#Prioritize_the_work\" title=\"Prioritize the work\">Prioritize the work<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/blog.renovationfind.com\/how-to-maximize-your-tenant-improvement\/#Avoid_turnkey\" title=\"Avoid turnkey\">Avoid turnkey<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/blog.renovationfind.com\/how-to-maximize-your-tenant-improvement\/#Hire_a_professional_company\" title=\"Hire a professional company\">Hire a professional company<\/a><\/li><\/ul><\/nav><\/div>\n<h4><span class=\"ez-toc-section\" id=\"Understand_the_construction_and_costs\"><\/span><strong>Understand the construction and costs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Before entering into any negotiations, it\u2019s important to understand what the costs entail. The amount of construction needed, the materials, permits, and labour all play a role. With a tenant improvement allowance (TIA), the tenant negotiates with the landlord for a set amount of money to renovate. As a cost per square foot usually settles allowances, you risk not getting the right budget for the work if you negotiate with just an idea. Connecting with <a href=\"https:\/\/www.bbb.org\/ca\/bc\/vancouver\/profile\/home-improvement\/amj-home-repairs-0037-1299779\" target=\"_blank\" rel=\"noopener\">general contractors in Vancouver<\/a> can help you discuss and plan your commercial renovation. Then, you&#8217;ll have a better idea of how much you&#8217;ll need in the budget to achieve your goals.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Prioritize_the_work\"><\/span><strong>Prioritize the work<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>How you prioritize any work will depend on whether the space itself is finished or not. In a finished space, one with walls, windows, and doors, it\u2019s better to focus on visual improvements. Repainting the walls or installing new flooring will go a long way in making the space feel new. Depending on if it&#8217;s for a restaurant, retail store, office, or another type of business, you&#8217;ll have to build within the space so it best meets your business&#8217;s needs.<\/p>\n<p>For a new space, it\u2019s essential to focus on what will improve the space most or appeal to certain tenants. <a href=\"https:\/\/www.bbb.org\/ca\/bc\/vancouver\/profile\/home-improvement\/amj-home-repairs-0037-1299779\" target=\"_blank\" rel=\"noopener\">Commercial renovations in Vancouver<\/a> can change the interior layout and design. Remember that a TIA may not cover the whole cost. Focus on what changes will add the most value and function.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Avoid_turnkey\"><\/span><strong>Avoid turnkey<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Tenants either receive the TIA directly, or the landlord controls everything with a turnkey tenant improvement. With a turnkey, the landlord handles the building logistics, manages the process, and decides how much of the allowance is spent. The problem here is that the tenant loses any say or control of the work. That\u2019s why it\u2019s generally best for the tenant to control the project to ensure the right changes or additions get done. View some <a href=\"https:\/\/www.investopedia.com\/ask\/answers\/071315\/what-are-examples-typical-leasehold-improvements.asp\" target=\"_blank\" rel=\"noopener\">examples of typical tenant improvements<\/a>.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Hire_a_professional_company\"><\/span><strong>Hire a professional company<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Working with a professional Vancouver general contracting company from the start is the best way to maximize your TIA allowance and plans. AMJ Construction can help with early planning and goal setting to help create the right budget for those plans. Then, once construction begins, their team will handle the logistics, work, and manage the project to ensure timeliness and quality work.<\/p>\n<p><strong>Start planning your tenant improvement renovation. <a href=\"https:\/\/www.renovationfind.com\/companies\/amj-home-repairs-7401\">Contact AMJ Construction!<\/a><\/strong><\/p>\n<div>\n<h3><\/h3>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Negotiations and understanding the process are two key parts when it comes to a successful commercial tenant improvement project. Whether you&#8217;re a tenant or a landlord, setting the right budget to ensure tenant retention and increased property value is essential. AMJ Construction in Vancouver offers residential and commercial renovations. They share some tips to get [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":8711,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[1292,182],"tags":[537,348],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to maximize your tenant improvement allowance - RenovationFind Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.renovationfind.com\/how-to-maximize-your-tenant-improvement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to maximize your tenant improvement allowance - RenovationFind Blog\" \/>\n<meta property=\"og:description\" content=\"Negotiations and understanding the process are two key parts when it comes to a successful commercial tenant improvement project. 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