Some tenants may want to alter the leased space. How much you decide to invest in the updates is often tied to the nature of the renovations and how long the lease lasts. The longer the lease, the more likely you'll be motivated to help with the building remodel. If you decide to help your new tenants update the building, you can help them in two ways. You can help them outright by paying for the remodel yourself, or you can take a few months off the rent to help your tenants pay for the update. For a five-year lease, a landlord might take off up to six months of the rent to help with renovations. In some cases, you may want to add a clause in the lease that dictates how you want the property returned to you.