Hi,
Currently I own a unit in Frankston which I live in. Since the day I purchased the property I have planned to rip out and replace the kitchen. I am planning to move next year and keep the property as a rental unit. What are people's ideas on waiting until I have moved out and have tenants in the property before moving ahead with the kitchen reno? I am not looking at spending a lot on the reno (approx $7k all up).
I was thinking that if I wait I could offer a week’s free rent for the tenant whilst the kitchen is done. Obviously the main reason I am looking at this is for the tax implications for myself.
Cheers,
Dean.
Currently I own a unit in Frankston which I live in. Since the day I purchased the property I have planned to rip out and replace the kitchen. I am planning to move next year and keep the property as a rental unit. What are people's ideas on waiting until I have moved out and have tenants in the property before moving ahead with the kitchen reno? I am not looking at spending a lot on the reno (approx $7k all up).
I was thinking that if I wait I could offer a week’s free rent for the tenant whilst the kitchen is done. Obviously the main reason I am looking at this is for the tax implications for myself.
Cheers,
Dean.