Maintenance of Residential Rental Property: An Empirical Analysis
AbstractThe 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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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 12 (1996)
Issue (Month): 1 ()
Contact details of provider:
Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
Find related papers by JEL classification:
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
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