# What is T and I in commercial real estate?

Contents

## What does MSF mean in commercial real estate?

4 Square Footage Definitions and What They Mean

Gross Square Feet is the total area of enclosed space measured to the exterior walls of a building. This is an umbrella term that includes everything in a facility, even unusable spaces (think areas in between walls).

## What does tt mean in real estate?

REI – real estate investing. REO – real estate owned. ROI – return on investment. TT – transfer tax.

## How does TI work in real estate?

A tenant improvement (TI) refers to the improvements a commercial property owner makes to the interior of a rental space to suit the needs of a new tenant. … If a real estate broker or agent is successful at closing a lease agreement between a landlord and tenant, they will receive a leasing commission (LC).

## How is TI allowance calculated?

How Do you Calculate the TI Allowance? The tenant improvement allowance is typically given based on the rental square feet (RSF) of the commercial space. To calculate the Tenant improvement allowance simply multiply the RSF by the TI allowance you have negotiated.

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## What is a good absorption rate in commercial real estate?

The equation can also be used to figure out how long it would take to sell the supply of homes on the market. An absorption rate above 20% has signaled a seller’s market and an absorption rate below 15% is an indicator of a buyer’s market. Absorption rates are also used to determine overhead costs in accounting.

## What does PRS stand for in commercial real estate?

A tenant’s Pro Rata Share being based on some other leased square footage and not the square footage it is occupying per the lease.

## What does N O mean in real estate?

What Is Non-Owner Occupied? Non-owner occupied is a classification used in mortgage origination, risk-based pricing, and housing statistics for one- to four-unit investment properties. The classification means the owner does not occupy the property.

## What does TT stand for in a lease?

TT = obligation to pay rent ceases. iii. TT may seek damages, possession, and/or recind lease.

## What does NBSP mean in real estate?

Non-breaking spaces are just what they sound like — spaces where a line break will not occur.

## What is TI money?

What is a TI Allowance? A tenant improvement allowance is money given from a landlord to a tenant to help pay for the improvements to an office space, or sometimes other expenses associated with moving into a new space.

## What does Triple Net mean in a lease agreement?

A triple net lease (triple-net or NNN) is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance.

## What is TI and LC?

A tenant improvement (TI) is an improvement that a landlord/property owner makes to a property to suit the needs of a new tenant. A leasing commission (LC) is a percentage based commission that a leasing agent receives when they successfully close a deal between a landlord and a tenant.