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Results for deferred maintenance
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In appraisal, a type of physical Depreciation owing to lack of normal upkeep.
Examples: The appraiser found the following examples of deferred maintenance on the subject property:
• broken window glass
• missing roof shingles
• peeling paint
• broken guttering
1. Maintenance that has been postponed and that may result in physical damage, lack of efficiency, decline in production, and other negative effects. If a company does not have an adequate repair program, future earnings potential of the assets are diminished.
2. Factor in real estate appraisal. For example, deferred maintenance may produce broken windows and discolored paint that adversely affect the value of a piece of property.
Deferred maintenance is a practice of allowing machinery or infrastructure to deteriorate by postponing prudent but non-essential repairs to save cost, labor and/or material. The failure to perform needed repair, maintenance, and renewal by normal maintenance management creates deferred maintenance. Generally, a policy of continuing deferred maintenance will result in higher costs or failure than if normal maintenance had occurred.
Maintenance competes for funding with other programs and is often deferred because appropriations are not available or were
redirected to other priorities or projects. Deferred maintenance is often not immediately reported -- and sometimes, not at all.
Maintenance which is deferred because of insufficient funding may result in increased safety hazards, poor service to the public,
higher costs in the future, and inefficient operations.
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Copyrights:
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 | Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved. Read more |
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| Accounting Dictionary. Dictionary of Accounting Terms. Copyright © 2005 by Barron's Educational Series, Inc. All rights reserved. Read more |
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| Wikipedia. This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Deferred maintenance". Read more |
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