What does BTS mean in REAL ESTATE

Build to Suit (BTS) is an agreement between a landlord and a tenant in which the landlord agrees to construct or improve the space that the tenant will rent. The tenant can customize the design of the property according to his/her business needs.

BTS is also known as build-to-lease, tailored building, readymade lease, customized property, and design-build.

Tenants benefit from being able to customize their properties according to their own individual needs instead of having to settle for whatever properties are currently available. They also have greater flexibility in terms of length of agreements.

Generally speaking, it is up to the parties involved in each individual agreement; however, it is usually paid for by either party depending on who stands to benefit most from it.

There may be potential drawbacks such as extra cost incurred if conflicts arise between both parties during construction or if additional timeframes are required due to unforeseen circumstances. Additionally, tenants may need to stay flexible when negotiating on other areas such as rental rates or leasing periods if it becomes necessary after construction has begun.