What happens if I don’t properly maintain my property and its condition deteriorates?

During the term your agreement with Unison, you are required to maintain your property in good condition, subject to normal wear-and-tear.

If you do not, when the agreement ends the value of your property will most likely be less than it would have been if it had been properly maintained, and this would not be fair to Unison. When this is the case, a Deferred Maintenance Adjustment may apply when performing the settlement calculations.

Since the loss in value would be due to your failure to maintain the property, the Deferred Maintenance Adjustment allocates all of the loss in value due to improper maintenance to you, so that Unison does not share in it.

Typically, no Deferred Maintenance Adjustment will apply unless the aggregate cost of the required repairs is at least $5,000. One or more appraisals, inspections or repair estimates obtained from independent third-party providers are used to determine the amount of the Deferred Maintenance Adjustment.

Unison is committed to a fair process to determine the amount of the Deferred Maintenance Adjustment. In a rare instance in which we are unable to agree in good faith on the amount, the issue will be determined through arbitration.

More detail about the Deferred Maintenance Adjustment can be found in the Unison HomeBuyer and Unison HomeOwner Program Guides.

About the Author

Benjamin Feldman

Director of Content

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Benjamin is fascinated by the real estate industry and financial innovation. He enjoys helping people learn about the housing market and how to successfully buy and own a home.

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