Yes there is a drop in rental property and it is difficult to ask for some increment because the nearer property rent are decreasing day by day.I have commercial property and it is really good for me but still no increase in rent this year start .

Yes I do agree that the annual appreciation may never be accurate all the time,It may vary and there should be some big differences too.The real estate agents have some knowledge about it and it is totally assuming.

I n such situation , its more important to compare the usage of the balcony , is it necessary or not.. If it is located in such area where it may useful and liked then the repair will be good options.If it does not effect the rent and other dangers then the removal and saving will be better.