Real Estate Glossary

What is Deferred Maintenance?

Deferred maintenance is the practice of postponing necessary repairs or maintenance on a property in order to save money or to prioritize other expenses. Deferred maintenance can lead to bigger problems in the future, as small issues may become more costly to fix if they are allowed to worsen over time. Deferred maintenance can also negatively affect the value of a property, as buyers may be less interested in a property that requires significant repairs or maintenance. Deferred maintenance can occur in a variety of areas, such as the roof, the HVAC system, or the plumbing, and it can range from minor repairs, such as painting or replacing worn flooring, to more significant renovations, such as replacing a roof or upgrading electrical wiring. Property owners may choose to defer maintenance for a variety of reasons, such as a lack of funds or time, or a desire to focus on other projects. However, it is important to carefully consider the potential consequences of deferred maintenance, as it can lead to increased repair costs and decreased property value in the long run.