You should classify as improvement to the property(increase the cost of the asset) and claim depreciation on the property.
Rental
property is considered a depreciable asset, including major improvements such as new roofs, landscaping,
refrigerators, water heaters, furniture, and so forth.
TurboTax Premier and
Self-Employed (and Home & Business if you're using TurboTax CD/Download)
will help you handle the ins and outs of depreciation.
See the below answer to FAQ on how to
depreciate your rental property:
https://ttlc.intuit.com/replies/5161635