Property Management
In Michigan property management, 'deferred maintenance' refers to:
AMaintenance performed ahead of schedule
BNecessary repairs or maintenance that has been postponed, often leading to greater long-term damage and cost✓ Correct
CMaintenance that the tenant is responsible for under the lease
DRoutine maintenance performed on a scheduled basis
Explanation
Deferred maintenance is upkeep that has been postponed, often due to budget constraints. It is a form of curable physical depreciation in appraisal and can lead to larger, more costly repairs if not addressed, reducing property value and habitability.
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