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
Solar heating using architectural design characteristics and building materials rather than an active solar heating design. For example, heavy insulation with several large windows facing ...
See effective tax rate. ...
Want to know what Net Listing means? Well, Net Listings are a type of listing where the home seller sets a minimum price he/she is willing to sell the property for and whatever amount above ...
Angle from north or south of a property. When a real estate appraiser does surveying, it is looked at clockwise from north. It may assist in determining the form or boundaries of land. ...
Failure or refusal to perform a specified action. The failure to fulfill contractually agreed upon terms or actions. Nonperformance creates a liability which can enable a judicial damage ...
Individual or business to which all rights (usually intangile) to property have been transferred. ...
A step's edge. ...
One of the things that humanity aspires to is open spaces and outdoor recreation opportunities, a place where families can enjoy natural beauty in its most raw form. The open space ...
Writ issued by the court requiring a person to appear as a witness or to provide written information in the case. A contempt of court citation may occur for failure to observe the subpoena. ...
Have a question or comment?
We're here to help.