WORD: Normal Wear and Tear

And the WORD for Today Is...

Normal Wear and Tear – refers to the general wear and tear associated with the “intended” use of a given product or property. The key word here is “intended.” For instance, a home printer is not expected to print 30,000 copies per month so that volume is above the expected amount and a breakdown could be anticipated since its use exceeded “normal wear and tear.” In real estate, the term is used most frequently to refer to the use of property. An apartment manager (or rental homeowner) expects a property to reflect ordinary (normal) usage. You can see traffic patterns, for instance, where people enter a home. In a year’s time the carpet will not be bare based on a family’s regular coming and going. If you are running a day care for 25 kids, then the carpet wear would exceed what most folks would call “normal.” The return of a security deposit frequently hinges on whether the property shows “excess” of normal wear and tear.

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You can find more helpful definitions of WORDS like these in Your Real Estate Advisor which can be purchased atwww.DovePublishingHouse.com.

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