change text size:

Is the property and building well maintained?

Your first impression is probably fairly accurate. Look around for signs of deferred maintenance such as:

• outside the building
  • landscaping that is poorly maintained with trees in poor condition, weeds, and sparsely planted flower beds
  • litter and trash around the property
• inside the building
  • in corridors look for staining from leaks in ceiling tiles, peeling paint or wallpaper, and
  • in parking garages look for leaks and stains from leaks, damaged or decayed concrete or asphalt, and poor lighting such as lamps out, fixtures damaged, or simply lots of dark areas.

If the building has been well maintained, the future costs should be reasonable, and there should be no surprise expenditures, although unplanned repairs can be needed because things do break or fail before their expected life span ends.