To fix balcony water leakage and peeling, first inspect for damaged flashing, cracks, or poor drainage. Repair or replace compromised flashing and seal cracks with epoxy or polyurethane. Ensure proper drainage systems are functional. Remove peeling paint or tiles, clean the surface, and apply a waterproofing membrane or elastomeric coating. Repaint or reinstall damaged materials. For severe cases, consult a structural engineer to address underlying issues like deck rot or improper installation.

Water leakage and peeling occur due to moisture intrusion, inadequate waterproofing, or structural weaknesses. A 2021 study by the National Association of Home Builders found that 35% of balcony failures in the U.S. stemmed from faulty flashing, which fails to direct water away from walls. Peeling often results from trapped moisture behind finishes, accelerating material degradation. The U.S. Consumer Product Safety Commission reports that balcony accidents cause an average of 2,500 injuries annually, with moisture-related structural damage accounting for 40% of claims. Waterproof coatings and proper drainage reduce recurrence by 60-80%, as per the American Society of Civil Engineers. Neglecting repairs can lead to costly replacements, with national averages exceeding $5,000 per balcony. Proactive maintenance extends balcony lifespan by 15-20 years, according to industry benchmarks.