Description & Calculation
As an inventory reflects the actual condition at a given moment, it is also an objective indicator of whether maintenance is overdue. Overdue maintenance means the lack of maintenance that should normally have been conducted by one of the parties and which could cause additional costs.
The assessment of overdue maintenance is intended, on the one hand, to establish what maintenance is involved and, on the other hand, to be able to estimate what costs must be borne to catch up with the overdue maintenance.
This form of property assessment is often part of a Due Diligence process and can be useful in negotiations for acquisitions/sales/transfers of real estate.