I have just purchased a property and am renting it out for 7 months before moving in.
As the property will not be an investment for long, I don't know if it is worth getting a quantity surveyors report for the depreciation schedules?
If not, am I able to self-assess depreciation?
The property was built 50 years ago, so is pre-1985 so cannot claim for building anyway, although there was an extension/renovations done about 10 years ago.
Also there was a pool built 3 years ago with a value of $32,900, a hot tub, built in dishwasher, and probably a number of other depreciable items which I'm not sure about.
Just wondering everyones thoughts on whether a QS report would be good givin only 7 months rental, or how I would go about self-assessing depreciation?
Thanks for the help !
As the property will not be an investment for long, I don't know if it is worth getting a quantity surveyors report for the depreciation schedules?
If not, am I able to self-assess depreciation?
The property was built 50 years ago, so is pre-1985 so cannot claim for building anyway, although there was an extension/renovations done about 10 years ago.
Also there was a pool built 3 years ago with a value of $32,900, a hot tub, built in dishwasher, and probably a number of other depreciable items which I'm not sure about.
Just wondering everyones thoughts on whether a QS report would be good givin only 7 months rental, or how I would go about self-assessing depreciation?
Thanks for the help !