leasehold improvement

Definition

An improvement of a leased asset that increases the asset's value. The expense of a leasehold improvement is carried as an asset that declines in value over time, as the value is depreciated over the life of the lease or the improvement.

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After the leasehold improvement was done and finished, the leased asset had more value, which meant good things for the future.

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The leasehold improvement was a win win situation as the landlord agreed to lower the rent for the tenant in exchange for the work.

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The apartment manager collaborated with construction foreman and market developers in order to obtain leasehold improvement over the managed zone

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leasehold estate noncurrent asset