In this study, we collected stated preference data of apartment tenants regarding the quality of building maintenance and modernization to evaluate its impact on rent prices. The findings suggested that the quality of maintenance is effective in terms of both residential satisfaction and intent to move to another apartment. The tenants’ feelings on the service life of rental apartments, which have made it maintain good condition is much longer than not good one. In conclusion, the quality of maintenance tends to increase the rent price of apartments by 5.2 percent on floor area 60 square meter and over of individual unit.