What do air rights allow the owner to do?

Air rights refer to the ownership of the vertical space above a property, granting the owner the ability to utilize or develop that space. This means that the owner can make use of the area above the buildings, potentially for new construction, such as additional floors or even entirely new structures, provided they comply with local zoning and building regulations.

This aspect of property ownership is particularly relevant in urban environments where space is limited, and the development of air rights can offer significant opportunities for expansion without needing to acquire additional land. Utilizing air rights can also enhance property value and generate additional income through leasing or selling the air space to developers who wish to build structures that reach higher into the air.

The other options are not aligned with the definitions and implications of air rights. Leasing the property pertains more to the surface of the land and does not specifically address air space usage. Altering a building's structural integrity may be a consequence of a development that uses air rights but is not a characteristic of air rights themselves. Purchasing adjacent parcels speaks to land ownership rather than the rights associated with the space above.