Your Tenant Improvement Allowance is at risk When a Landlord Defaults
Certain commercial leases allow a tenant to build out space and be reimbursed by the landlord for such buildout. In the current economic climate, however, a landlord may be having financial difficulty or default on its mortgage and be unable to reimburse the tenant for the buildout. This does not, however, relieve the tenant from paying the contractors who performed the buildout work. As a result, prospective tenant’s should pay attention to landlord’s who are having financial difficulties and also consider performing financial due diligence on the landlord.
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