Tenant Improvement Period
Tenant Improvement Period also known as the period of time where your build out will take place after signing a lease. Upon signing a lease, unless a Tenant is leasing a space “as is”, there are usually some improvements or build out that needs to be completed within the premises prior to occupancy. This can range from minor carpet/paint to a complete demolition and rebuild of an office space.
Depending on the amount of work that needs to be done it can take 30 - 120 days on average to complete. This includes design meetings, engineer drawings, applying for permits, construction, weekly or bi-weekly status reports, inspections, furniture & cable install and final certificate of occupancy permit. Proper planning must be determined at the beginning of the office search process to ensure what your timeline will allow so there is no overlap with your existing lease expiration which can lead to holdover penalties.