Upgrading Leased Property 25+ Years
Serving the Greater Toronto and Mississauga areas for over 25 years, Patcon Contracting is capable of upgrading leased properties, which may include the installation of new walls, cabling and/or reception areas. These improvements revert to the lessor at the expiration of the lease term.
Improvement Costs Incurred under Operating Lease
As improvement costs are incurred under an operating lease, the leasehold improvement account is charged. The leasehold improvement is amortized over the life of the improvement or the remaining lease term, whichever is shorter. Leasehold improvement is usually considered an intangible asset, as the lessee does not own the leased property.
Make Your Office More Structurally Suitable
If you need professional assistance making your office more suitable for your business’ needs, contact us
for an estimate! We can help you make the structural changes you require to be more successful in today’s fast-paced business world.