Here's another way to look at the difference between a repair/maintenance expense, and an improvement expense.
- Improvements are expenses you incur that Improve, restore, or otherwise “better” the property. Basically, they retain or add value to the property.
- Repair expenses are those expenses incurred to return the property or its assets to the same usable condition they were in, prior to the event that caused the property or asset to be unusable.
- Maintenance expenses are those expenses incurred to maintain the property and its assets in the usable condition the property and/or asset was designed and intended for.
