What is the term that describes the process of repairing and converting existing properties to meet modern standards?

The term that best describes the process of repairing and converting existing properties to meet modern standards is rehabilitation. Rehabilitation refers to the act of maintaining and improving the existing structure while making necessary upgrades to ensure that it adheres to contemporary building codes and standards. This process often involves restoring elements of the building that may have deteriorated, while also updating systems such as plumbing, electrical, and HVAC to ensure they function efficiently and safely.

Adaptive reuse, while related, specifically focuses on repurposing buildings for uses different from their original intent, which may or may not include significant repair or modern upgrades. Urban renewal generally refers to the revitalization of urban areas, often involving a broader scope of demolition and new construction rather than solely the repair and conversion of existing properties. Reconstruction indicates a more extensive process of rebuilding, often from the ground up, which is typically distinct from the subtleties of repair and conversion involved in rehabilitation.