The term “deferred” means to put something off until a later time, while the word “maintenance” is defined as work that is done regularly to keep a building, or piece of equipment in good condition and working order. This begs the question, how does someone put something off until a later time while doing it regularly?
At a recent homeowner association meeting where extensive deferred maintenance issues were being discussed, we had invited a local real estate appraiser to address the membership concerning several different renovation options (and therefore costs) associated with the much needed repairs. In his opening remarks to the membership he bluntly stated, “The problem with homeowner associations is that the members have an ownership interest with an apartment mentality.” At the time I thought that statement was pretty harsh, but looking back over the past 23 years of consulting for homeowner associations I believe he has a point. Although I understand that this is quite a generalization, there are many aspects of his statement that ring true.