work letter allowance
German translation: s.u.
| 22:59 Nov 27, 2002 |
| English to German translations [PRO] Law/Patents | |||||||
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|  Selected response from: Annette Scheler Germany Local time: 10:28 | ||||||
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| Summary of answers provided | ||||
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| 3 | s.u. |
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| 1 | Arbeitserlaubnis |
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| Discussion entries: 1 | |
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Answers
11 hrs confidence: 
Arbeitserlaubnis Explanation: Reine Raterei... |
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14 hrs confidence:
s.u. Explanation: unter http://www.arterhadden.com/publications/RealEstate/real1098a... wird erklärt, was es für work letters gibt: Unlike residential property, an office, industrial or retail building is first constructed in "shell" condition, meaning that only the exterior and the basic building systems are built. The insides are usually built-out later, based on the specific plans of individual tenants, as and when these tenants sign leases. Even when an initial tenant moves out and leaves its built-out space, the next tenant usually has to demolish, redesign and rebuild the space for its own needs. The construction of these individual tenant spaces, in either the "shell" or the "second generation" case, including everything from walls to bathroom fixtures, is called "tenant improvement" construction. The Work Letter is also sometimes identified as a "tenant improvement agreement" or a "construction agreement". There are three general types of Work Letters, distinguishable by which party plans, performs and/or pays for the work. The first type of Work Letter is the so-called "Turn-Key Work Letter" wherein the landlord directly hires and controls both the architect who designs the space and the general contractor who builds it. A final "Space Plan" and sometimes even construction drawings are prepared and agreed to at lease signing. The second type of Work Letter is the "Landlord-Controlled Work Letter" where the tenant hires and directs the architect, and the landlord hires the contractor. Here, the landlord provides certain basic building systems at its cost, and gives the tenant a monetary allowance, called a tenant improvement allowance ("T.I. Allowance"), for the purpose of completing additional improvements. The tenant's architect designs the space, the landlord's contractor builds it, the T.I. Allowance pays for it, and rent starts upon substantial completion of the tenant improvements. The third type of Work Letter is the "Tenant-Controlled Work Letter", and is similar to the Landlord-Controlled Work Letter in that the landlord provides basic systems and gives the tenant a T.I. Allowance. In a Tenant-Controlled Work Letter, however, the tenant hires and controls both the architect and the contractor. Rent starts on an agreed-upon outside date, since the tenant presumably has control over the speed of the job. könnte man vielleicht "Zusatzvertrag über Ein- und Umbauten" oder so ähnlich nennen "allowance" ist dann der Zuschuss des Vermieters |
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