Apartment housing need to accompany maintenance activities for retaining comfortable residence environment, promoting welfare of residents, etc. In case of Korea, long-term repair cost for future repair activities was collected previously with the law...
Apartment housing need to accompany maintenance activities for retaining comfortable residence environment, promoting welfare of residents, etc. In case of Korea, long-term repair cost for future repair activities was collected previously with the law. However, some problems occur such as insufficiency of repair plan, difference between collected cost and real cost used. Thus, strategies were needed to predict and allocate long-term repair cost wisely. In this study, Loss Distribution Approach (LDA) based model for long-term repair cost was suggested for risk prediction in apartment housing. In LDA-based model that is suggested, the risk of long-term repair cost was suggested through frequency and severity based on risk matrix. In this study, concept of frequency and severity were redefined and risk matrix and loss distribution were restructured to applying LDA that is used in financial field generally. LDA-based model allowed to perform preliminary evaluation, post evaluation of long-term repair plan and retain validity of long-term repair cost collected.