Howdy!
Currently my insurance company has done repairs to my roof for a small leak from the storms this year.
The leak has gone through a bit of plasterboard so insurance has to repair the damage and paint the ceiling which ends up being the whole house minus the bedrooms.
The repairs were estimated to take a week and kitchen cupboards and things need to be taken down.
The tenant does not want to be inconvenienced by this and doesn't want to repairs to be done and I'm happy with this as the tiles have already been repaired and no further damage will occur.
The insurance company will be paying me out for the repairs to get done at a later date which will be when the tenants leave which (hopefully) will be a long time away.
As they will be paying me out I'm sure I need to add this as income but then, can I claim the repairs to the roof tiles, plasterboard & painting and also for new depreciation over time?
When they pay me out should I request and itemised list of the costs of the repairs for tax?
Also should I get 1-2 independent quotes in case they try to short change me? As if a insurance company will do that
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