Depreciation on Junky Stuff

[Jimmyjamjars]

Hi Forum,
I'm wondering if it is worth getting a depreciation schedule done by a quantity surveyor on my Kings Beach unit.
It was built in 1981 so construction cost write-off is out of the question. The reason I'm asking is that when the previous owners turned it into a rental, I think they've gone to Saint Vinnies and firnished the entire house for about a grand. It came with everything right down to cutlery, crockery, prints, bedspreads etc. What I don't understand is: If the stuff was already old when purchased, how is it depreciated by me and to what cost is it estimated by the QS. Is it worth me paying a QS $350 to get me 200 dollars. Can you help me as if it is worthwhile, I need to get this done before June 30th.
Thanks,
Jim

 

[WillG]

Perhaps the QS wouldn't charge the full $350 if he is only depreciating furnishings & not the building.

What are the furnishings insured for ?

 

[Brenda Irwin]

Don't forget the old saying 'one mans trash is another ones treasure'. I got an old house surveyed when I first bought it. Turned out all the old furniture went with the place. QS appraised it at $13k worth!
Cheers Brenda

 

[landlubber]

JimmyJJ,
If you are renting the unit furnished, (that seems important) then I think it would be well worth your while to have a QS do his stuff.
I've been in the same situation , bought furnished units and been pleasantly surprised.
Don't throw anything out until the QS has been.
If you roam around this forum you should find some interesting posts on this topic.
LL