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Thanks to Steve and the team for a great conference. Once again a must attend event.
I do enjoy the varied content during the event and it would have been great to get to all the workshop sessions.
Great thoughts on Commercial property and looking for market inefficiencies.Thanks.
Is it your PPOR or an IP?
I do find tenants prefer tiles because you don't need to have them steamed cleaned like carpets at the end of the lease.
Also better wearing around pets & kids. Large tiles (non-white!) seem to be best.
Also look at the laminate flooring. Timber looking which is easily laid, replaced and very hard wearing.
Cheers,
I just had a repair done where there was Asbestos in the bathroom, toilet & laundry. I needed to fix the bathroom so I had it removed from all these rooms.
The key is safety. If you have electrical wire hanging from the ceiling or a pier of bricks loose from the house, both of these need to be rectified or you could be liable. If the Asbestos is friable (ie. breaking up or loose), it is considered un-safe.
There is an interesting ATO tax ruling about a shed being removed and replaced because it was asbestos. This was allowed to be deducted as an expense (repair) rather depreciated (renovation). This has been taken that you can remove asbestos and replacement with similar modern equivalent as a repair as it is a safety issue by other accountants.
I'll be working this through with my accountant later in the year.
I do know of investors looking for asbestos in houses to add value but also the expense deduction
You should investigate if the roof replacement for metal could be a repair.
Cheers.
