Dictionary of Business Terms: modernize
modernize
alter a property by installing up-to-date equipment, making contemporary cosmetic improvements, and deleting obsolete facilities.
Dictionary of Real Estate Terms: modernize
modernize
to alter a property by installing up-to-date equipment, making contemporary cosmetic improvements, and deleting obsolete facilities.
Example: The redeveloper modernized the apartment building by installing dishwashers, wall-to-wall carpeting, a new gas furnace and by removing the coal storage bin.
