I often read of people using a "depreciation schedule" to improve the cash flow of their property investments. My limited understanding of this strategy is to pay a quantity surveyor to visit your property and produce the schedule for your accountant. Have I got the process right?
Can this approach be applied to older investment properties where only very minor improvements have been made in recent years?
Yep.
And yes many older properties yield decent depreciation.
A good QS company will find out enough about your property, though, to make sure the effort and cost of getting a Schedule is worthwhile. That's what we do, anyway.
ScottAlways get a schedule done, They normally write the depreation over 40years,
"Deppro" actually have a policy that if the depreation schudule doesn't return enough money to cover the cost you out lay for them to write it up for you they don't charge you,
My IP was built in the 60,s but had a major reno. a quantity surveyor valued the reno at $115,000 for capital works and $15 grand for depretiable things like shutters etc. Well worth doing
You must be logged in to reply to this topic. If you don't have an account, you can register here.
