improvement

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Improvement

The act of adding something to a property such that it increases the property's value. For example, if one builds a house on a piece of land, the land usually becomes more valuable. Thus, the house is considered an improvement.

improvement

An increase in the value of real estate achieved by changing its configuration or by adding to it. Also called land improvement.
References in periodicals archive ?
The client should have an appraisal prepared to prove the "cost" of these building improvements that were completed one year before their sale.
He's strongly in favour of any incentive packages available for building improvements.
Administrators say long-term building improvements are needed to implement the program.
The past owner has added significant value with both management and building improvements and the new owner will do extremely well with the asset." said Vegh.
The New York state Court of Appeals will hear a case tomorrow on whether landlords are allowed to deregulate rent-controlled apartments while receiving J-15 tax abatements for building improvements. The case is an appeal of the March judgment against Tishman Speyer, owner of Stuyvesant Town and Peter Cooper Village, in which the court found that it had illegally deregulated units in the two apartment complexes.
CASH for school building improvements intended for next year is to be given to Coventry schools this year.
Commercial Improvement Area Grant The grant assists with costs for external building improvements. Environmental and internal improvements may also be considered.
A further pounds 79,100 is for external building improvements, additional fencing, improved bin-housings and a door-entry system for flats at Mendip Gardens.
Most of the company's equipment was leased or rented, Hubley says, but Spectrum made some building improvements, installing an air-filtration system and floor drains according to Ministry of Environment specifications.
"After New York City endured Hurricane Sandy, we took the opportunity to make building improvements in the common spaces like the fitness center," said Sofia Estevez, executive vice president of TF Cornerstone.
The Appellate Division ruled last month that Tishman and the complexes' former owner, Metropolitan Life, should not have deregulated apartments while receiving the J-51 tax abatements, which are given for making building improvements. The ruling would have required Tishman and other landlords to re-regulate apartments and pay tenants the difference between the market rents they were paying and the regulated rents.
"These planned short-term building improvements will enable us to achieve this aim in line with the college's well-deserved reputation for academic excellence and tradition."

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