Leasable

Leasable describes something, typically property or assets, that is available to be rented or leased. It implies that the item is in a condition suitable for occupancy or use by a lessee, adhering to any pre-defined contractual terms. This includes considerations like functionality, compliance with building codes, and an understanding of potential liabilities. The term often applies to real estate (land, buildings, offices), equipment (machinery, vehicles), and even intellectual property (licenses). The act of making something 'leasable' usually involves preparing and maintaining the property or asset to attract potential renters or lessees, ensuring it meets the expectations of the market.

Leasable meaning with examples

• The renovated downtown office building is now fully leasable. Several businesses are already interested in securing space. New upgrades, like high-speed internet and energy-efficient systems, make the office a prime real estate target for several potential tenants.
• Before the construction company moved into the site they ensured all the heavy machinery was leasable, allowing them to effectively work on the new infrastructure projects with state-of-the-art machinery. This also allowed them to increase their ability to take on new contracts with confidence.
• The company owns hundreds of properties and manages them all to be leasable, which ensures constant revenue. They also carry insurance against damage and loss, protecting their assets, and they screen all potential tenants to protect their investment.
• After years of inactivity, the farm equipment was serviced and made leasable, allowing it to return to economic productivity. This saved the company from having to spend money on buying new equipment as all that was needed was some TLC.