Leasehold Improvement
Definition of "Leasehold improvement"
Upgrading made by a lessee to leased property. Examples are paneling and wallpapering. These improvements revert to the lessor at the expiration of the lease term. As improvement costs are incurred under an operating lease, the leasehold improvement account is charged. The leasehold improvement is amortized to expense over the shorter of the life of the improvement or the remaining lease term. If there is a lease renewal option and the prospect of renewal cannot be predicted with certainty, the amortization period should be the original lease term rather than the longer possible term. The amortization expense on a leasehold improvement is not tax deductible. Leasehold improvement is usually considered an intangible asset, because the lessee does not own the leased property.
Popular Real Estate Terms
part of the Department of Housing and Urban Development (HUD), which sees that complete disclosures are made for land sales. ...
Professional certification granted by the Institute of Real Estate Management, an affiliate of the National Association of Realtors. ...
When you sign a Listing Agreement with a real estate broker or agent, he or she has a fiduciary responsibility to represent your interests exclusively. However, should another client ...
The definition of low-income housing is any house that is either rented or owned by an individual or family that has a monthly household income that does not exceed a certain percentage of ...
Individual who attempts to maximize his or her profitability by investing which the anticipation that a particular investment will go up in value. A speculator will generally be willing to ...
Ability of the size of the land to accommodate the desired economic purpose. An example is having enough space to build a supermarket to meet the needs of the community. ...
Owner-occupied housing. ...
revising the terms of a loan such as when the borrower is experiencing severe financial difficulties. For example, a homeowner lost his job and seeks relief by requesting the lender ...
The real and personal assets of a person at the date of death. The distribution of the assets to the heirs depends on the provision of the will. If no will exists, the distribution is based ...
Have a question or comment?
We're here to help.