Deferred Maintenance
Postponed repairs and upkeep — worn roofs, peeling paint, broken systems. Deferred maintenance is curable physical deterioration: the market measures it roughly at the cost to cure, and lender programs may require repairs before closing.
Related Terms
Physical Deterioration
A loss in property value resulting from wear and tear, damage, structural failure, or neglect of the physical improvements.
Curable Depreciation
Depreciation economically worth fixing: the cure costs no more than the value it restores.
Effective Age
The age of a property as indicated by its condition, maintenance, and updates, which may differ from its actual (chronological) age.
More in Property Characteristics
View allGross Living Area (GLA)
GLAThe total finished, above-grade living area of a residential property, measured in square feet.
Gross Building Area (GBA)
GBAThe total area of a building measured from the exterior walls, including all finished and unfinished, above-grade and below-grade spaces.
Below-Grade Area
Any portion of a building that is below the ground level on any side.
ANSI Z765 Measurement Standards
ANSIThe American National Standards Institute standard for measuring residential floor area.