SIGN IN YOUR ACCOUNT TO HAVE ACCESS TO DIFFERENT FEATURES

FORGOT YOUR PASSWORD?

FORGOT YOUR DETAILS?

AAH, WAIT, I REMEMBER NOW!

Property One, Inc.Property One, Inc.

  • Services
    • Property & Asset Management
    • Property Leasing
    • Tenant Representation
    • Brokerage & Investment Sales
    • Maintenance & Construction
    • Project Administration
    • Facility Management
    • Development
  • About
  • Locations
  • Team
  • News
  • Contact
  • LISTINGS
    • COMMERCIAL
    • APARTMENTS
Tuesday, 09 August 2016 / Published in Property & Asset Management

Property Depreciation – how to avoid it!

Property values can be lost through the following forms of depreciation:

Deferred maintenance – the easiest form to spot and to estimate – it is the deterioration of the physical aspects of a property including structure and mechanical.

Functional obsolescence – outdated facilities, poor lay out or inadequate parking can cause a building value to decline

Economic obsolescence – deteriorating neighborhood conditions, traffic, adjacent nuisances such as an airport.

By properly maintaining physical conditions of a property including structure, roof, plumbing and HVAC as well as regular updating of corridors, bathrooms, and lobbies, building values can be maintained and improved. Economic factors can be more difficult to address but can be just as important in curbing value depreciation. Involving local municipal representatives can help in this area.  Applying basic practices to maintain and update property in itself can also assist in preventing economic obsolescence.

Over the past 40 years property value in the United States has increased at an average rate of 5.4% annually.  In the past eleven years the property value in New Orleans has increased by nearly 51%.  Preventative maintenance and updates to keep property contemporary prove to be valuable practices for property owners and to have significant influence on perspective buyers.

  • Tweet

What you can read next

Brannon Park to be managed by Property One
10 Mandates of Property Management
Property One Chosen to Manage the Walle Building

Recent Posts

  • 2022 CoStar Power Broker Award Winners Announced!

    March 7, 2023 – (Metairie, LA) – CoStar Group, ...
  • Propel Park Blasts Off At NASA

    Q&A with Lee Audibert, SIOR Propel Park, lo...
  • Property One Wins CityBusiness Reader Rankings

    Property One was recently recognized by New Orl...

Archives

  • March 2023
  • June 2022
  • November 2021
  • September 2021
  • May 2021
  • April 2021
  • March 2021
  • January 2021
  • October 2020
  • August 2020
  • June 2020
  • April 2020
  • March 2020
  • December 2019
  • October 2019
  • May 2019
  • February 2019
  • November 2018
  • October 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • February 2018
  • January 2018
  • November 2017
  • October 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • January 2017
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016

Categories

  • Brokerage & Investment Sales
  • Development
  • Facility Management
  • Maintenance & Construction
  • Press Release
  • Project Administration
  • Property & Asset Management
  • Property Leasing
  • Property One News
  • Tenant Representation
  • Get In Touch

  • Request Service

  • Get In Touch

How can we assist you?
GIVE US A CALLCONTACT FORM
  • Metairie (HQ) / 504-681-3400
  • Atlanta / 470-259- 7131
  • Baton Rouge / 225-292-0001
  • Lafayette / 337-233-1315

Property One, Inc.
3500 N. Causeway Blvd
Suite 600
Metairie, LA 70002

Have a service request?

Request Service
INTRANET FILESOUTLOOKYARDIYARDIONENETCHEX

Licensed in Louisiana, Mississippi, Texas and Georgia.

© 2020 PROPERTY ONE, INC. | All rights reserved.  POWERED BY MPRESSED MEDIA.

TOP