What are leasing expenses primarily associated with?

Leasing expenses are primarily associated with preparing the space for new tenants, which encompasses various costs involved in getting the property ready for occupancy after a lease is signed. This preparation can include costs such as renovations, cleaning, painting, and possibly installing fixtures. These activities ensure that the property meets the needs and standards expected by incoming tenants, making it a crucial aspect of the leasing process.

While operational costs, repairs, maintenance, and taxes on rental income are important components of overall property management, they do not specifically fall under the category of leasing expenses. Each of these options pertains to ongoing property management or financial obligations rather than the direct costs tied to preparing leased space for new occupants.