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Maintenance of Residential Rental Property: An Empirical Analysis

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Abstract

The maintenance costs of 137 residential rental properties in northwestern South Carolina are analyzed. The results show that maintenance cost per square foot increases with property age, tenant turnover, certain amenities, and for higher-rent properties. Compared to other property types, apartments exhibit higher maintenance costs per square foot with larger complexes showing lower per square foot maintenance costs than smaller complexes. This cost economy suggests added value to rental housing for larger complexes. Owners of multiple properties are found to pay higher maintenance costs. Finally, there is no observed relationship between absentee ownership and the level of property maintenance.

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  • Thomas M. Springer & Neil G. Waller, 1996. "Maintenance of Residential Rental Property: An Empirical Analysis," Journal of Real Estate Research, American Real Estate Society, vol. 12(1), pages 89-100.
    • Handle: RePEc:jre:issued:v:12:n:1:1996:p:89-100
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    Cited by:

    1. Fang-Ni Chu & Chin-Oh Chang & Tien Foo Sing, 2013. "Collective Action Dilemmas in Condominium Management," Urban Studies, Urban Studies Journal Limited, vol. 50(1), pages 128-147, January.

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    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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