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Expected Lifespan

Estimated useful life or depreciating lifespan of a physical component.

The estimated time – in years – that a reserve component can be expected to serve its intended function, if properly constructed and installed.

Sometimes referred to as the normal life expectancy under normal conditions inclusive of maintenance and scheduled minor and major repairs.

The expected lifespan is a fairly standard interpretation that many writers source from national guides, but that best-practice report writers adjust for local construction factors and environmental conditions whenever appropriate.

About Author: Jean-François

With experience gained in construction, project management, field reviews, inspections, report writing and as strata president, J.-F. has cross-industry expertise guaranteeing that you will participate in a process geared to improving the corporation's finances and to setting the condo | strata board | council's planning to stand the test-of-time.