Physical Deterioration

In real estate, “physical deterioration” refers to the wear and tear or the decline in the condition of a property’s physical structure or components over time. This deterioration can result from various factors such as age, weather exposure, lack of maintenance, or normal use. Physical deterioration may include issues such as roof leaks, cracked foundations, peeling paint, or outdated fixtures. Assessing and addressing physical deterioration is important for property owners to maintain the value and functionality of their real estate assets.