Since 2000, no-income-verification commercial loans have become all the rage in the commercial sector. The providers of this loan offer loans to any borrower who has a specific credit score; and this loan is provided without getting the borrower’s income checked.
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Long-term tenants are valuable for any landlord having a commercial property because they are way better than those short-term bad renters who break the lease prematurely. For this reason, landlords should move heaven and earth to ensure that only the best tenant should rent their properties. And one way to ensure that your property attracts none other than the best of tenants is to go for a Tenant Improvement (TI) plan.
Understanding a TI plan
TI plans, by and large, include the modifications that have to be made within the industrial or the commercial property (by the property owner). These changes are carried out to accommodate some of the feasible needs of a tenant; the needs can be related to a range of things including ceilings, partitions, fire protection, security, and air conditioning. (The portion of TI costs must be negotiated between the lessee and the lessor beforehand, and the terms must be clearly mentioned within the lease agreement.)
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