Definition
Maintenance includes routine repairs and preventive service. Proper budgeting and vendor coordination keep properties in excellent condition.
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Maintenance budgeting 1-2% of property value annually. Preventive maintenance extends asset life and prevents costlier repairs. Tenant communication critical. Emergency repairs require prompt response. Capital improvements vs. repairs affect tax treatment. Property management coordinates vendors. Professional standards apply. Delayed maintenance creates liability risks and tenant disputes. Good maintenance retains tenants. Building value through upkeep. Professional management ensures quality work. Records track maintenance history.
Pro Tip
Preventive maintenance costs less than reactive repairs.
Example
Regular maintenance prevented costlier repairs extending property life.