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Fit Out Allowance

A financial or other contribution to reduce the cost of the fit out (Tenant Improvements) given by a landlord to a tenant as an incentive for the tenant to sign the lease. Usually the Fit Out Allowance is given to help reduce the large cost of fitting out a Shell & Core space, but one may also be given on space that has already been fit out. The Fit Out Allowance may take the form of a lump sum, or an amount per rentable or useable square meter (e.g., $100 or $200), or a Rent Free Period. Rarely the Allowance pay be in the form of materials or equipment.

Term in Russian