If the paint in my personal home starts peeling, my incentive to fix it is higher - I don't want to walk down the hall and see peeling paint.

If the paint in a corporate-owned tenement starts leaking, what incentive does the corporation have to repair it? They will do the bare minimum to prevent me suing them for breach of contract. A tenant is unlikely to sue over peeling paint. And they actively discouraged from re-painting, as they will likely lose their security deposit should they paint in any color other than generic off-white.