Which of the following terms best describes improvements that go beyond regular maintenance?

The term that best describes improvements that go beyond regular maintenance is "capital improvement." Capital improvements refer to enhancements or upgrades to a property that significantly increase its value or extend its useful life. These improvements are typically substantial in nature and may involve significant investment. Unlike regular maintenance, which focuses on keeping a facility in its current condition, capital improvements aim to create new value or capabilities, such as adding new structures or major installations.

In the context of property management or construction, capital improvements are important as they can increase a property's marketability, energy efficiency, or overall functionality. For example, this could involve adding a new wing to a building or installing a new heating system, which fundamentally alters the property's characteristics.

While capital repairs and major renovations may also imply significant work, the terminology around "capital improvement" more precisely captures the essence of making enhancements that upgrade or transform a space rather than just repairing or maintaining it. Ordinary repairs, on the other hand, are routine fixes that do not improve or enhance the property's overall value.