Property Management
In Hawaii, what is meant by 'deferred maintenance' in property management?
AA. Maintenance that is scheduled for a future date as a capital improvement
BB. Necessary upkeep and repairs that have been postponed, resulting in deterioration and potential liability✓ Correct
CC. Maintenance paid later than the due date
DD. Maintenance completed ahead of schedule
Explanation
Deferred maintenance is upkeep and repairs that have been delayed or neglected, leading to physical deterioration. It represents a cost risk and can affect property value and habitability.
People Also Study
Related Hawaii Questions
- What is 'deferred maintenance' and how does it affect property management decisions?Property Management
- Which of the following is a capital improvement that would be budgeted separately from routine maintenance in a Hawaii property management plan?Property Management
- A Hawaii property manager discovers significant deferred maintenance on a managed property. They should:Property Management
- In Hawaii, the cost approach to value includes which components?Property Valuation
- In Hawaii, what is meant by 'constructive notice' in property management?Property Management
- A Hawaii property with a replacement cost of $800,000 has 20% depreciation. What is the depreciated value of the improvements?Real Estate Math
- A Hawaii condominium owner's HOA fee is $750/month. Annually, this represents what percentage of a $300,000 unit value?Real Estate Math
- A Hawaii property costs $1,500,000 to build on land worth $300,000. After 5 years of 2% annual depreciation on the building, what is the value using the cost approach?Real Estate Math
Key Terms to Know
Depreciation
A reduction in the value of an improvement (building) over time due to physical deterioration, functional obsolescence, or external factors.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Study This Topic
Practice More Hawaii Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Hawaii Quiz →