Deferred maintenance refers to:

Deferred maintenance specifically refers to the postponement of necessary repairs and maintenance that should be performed on a property. This concept is important in property management as it can lead to larger issues if such repairs are not attended to in a timely manner. For instance, if a roof leak is noticed and not repaired promptly, it could result in water damage, mold growth, and further structural issues, significantly increasing the cost of repairs later on.

Understanding the implications of deferred maintenance is crucial for property managers as it impacts property value, tenant satisfaction, and overall safety. Property managers must balance budgets and schedules, but allowing repairs to be deferred can lead to serious long-term consequences, affecting not only the physical state of the property but also tenant relationships and financial performance.