What is Rhonda measuring when trying to determine how much longer a building can be expected to remain standing?

Rhonda is measuring the physical life of the building, which refers to the length of time that the structure is expected to remain standing before it deteriorates to a point where it may no longer be usable or safe. This concept focuses on the actual condition of the building, including its materials and construction, rather than the economic factors or market conditions that might influence its viability.

The physical life accounts for the wear and tear of the building over time due to environmental factors, maintenance practices, and the inherent durability of the construction materials. It answers the question of how long the physical structure can last before it needs significant repairs or replacement.

Other terms, such as economic life, refer to the period during which the property generates income at a reasonable rate, functional life addresses the usefulness of the property for its intended purpose, and market life relates to how long the property will remain marketable. In this context, however, the focus is solely on the structural integrity and longevity of the building itself, making physical life the most appropriate measure.