I have an offer in on my first IP It needs a new kitchen and I am not sure when I should put it in i.e. should I put it in just prior to settlement even though I won't technically own the property or wait until after settlement. If I wait until after settlement would I put a tenant in and then put a new kitchen in or should I put the kitchen in and then put the tenant in?
I would prefer to start getting rent as soon as settlement has occured so I don't lose a weeks rent while I put the kitchen in.
Also as the existing kitchen is in really bad condition could this be classed as a repair and therefore fully tax deductible if I wait to have a tenant in before I put the kitchen in?
Your advice would be greatly appreciated
I would prefer to start getting rent as soon as settlement has occured so I don't lose a weeks rent while I put the kitchen in.
Also as the existing kitchen is in really bad condition could this be classed as a repair and therefore fully tax deductible if I wait to have a tenant in before I put the kitchen in?
Your advice would be greatly appreciated