Short for 'renovation' (リノベーション); renovating or refurbishing a building/room to improve function or design. Common colloquial term in real estate and conversation.
古いマンションを購入して自分好みにリノベした。
I bought an old apartment and renovated it to my taste.
最近はリノベ物件が若い世代に人気だ。
Renovated properties have recently become popular with younger generations.
このキッチンはリノベ前と比べて使い勝手が良くなった。
This kitchen is more functional compared to before the renovation.