“Maintenance” typically refers to basic upkeep to prevent the deterioration of the facilities, such as annual servicing, repainting, or washing. “Repairs” generally keep the property in its ordinary, efficient, operating condition or restore the property to its original operating condition. “Improvements” can include new permanent structures, such as fencing, that materially enhance the value of the property or substantially prolong its useful life. A capital improvement materially enhances or prolongs the life of the property. For more on this topic, see our fact sheetMaintenance, Repairs and Improvements
Posted in: Lease Agreements, Maintenance and Repairs
