Leasehold Improvement
Categories: Real Estate
You wanted to lease the office for 3 years at 5 grand a month, but you just hated the closed, long hallways. Yours is a tech firm, so everything was to be open and airy and a bit fairy.com, as you'd sprinkle dust on their big brains so they'd code...magically.
The landlord really wanted you as a tenant, as she thought you'd attract a dozen other tenants into the area who'd then rent or lease her other buildings. So she cut you a sweetheart leasehold improvement deal, wherein you were given a budget of $25,000 to spend on improvements...basically tearing out walls and ceiling. You'd spend that money through her carpenters and painters, and it was all part of your 3-year lease contract, so that when you were ready to move in, everything was shiny, nice, and pretty.