Leasehold improvements are changes made to a leased property to suit the specific needs of the tenant.
Landlords may agree to these improvements for existing or new tenants.
Improvement of the leased property can be carried out by the landlord or the tenant.
Painting, installing custom partitions or lighting fixtures, and replacing flooring are all improvements to the rental property.
Extensions of buildings, elevators and escalators, roofs, fire protection, alarm and security systems, and ventilation and air conditioning systems are not considered to be improvements to the leased property.