Hi guys,
I'm settling on my first IP next week. YAY!
Am looking for a QS to prepare a depreciation schedule. Could someone please advise :
1. Any recommendations on who to use (IP is in western Sydney)
2. What the preparation involves ie: will I simply ahve to give the QS access to the IP for an inspection?
3. what is the usual turn around time for preparation of the schedule?
Hi Da Man,
Firstly, congratulations on your first IP.
You can use Depreciator (http://www.depreciator.com.au). I have used them couple of times and found them very prompt.
Is the property established or brand new. If its brand new, you can give the building contract to the QS but I prefer the QS to go to the property because sometimes everything is not mentioned in the building contract.
Because the property is in Sydney suburbs, I think the QS should be able to provide the schedule within a week or so.
Good luckI use Depreciator as well.
Probably most relevant if the investment is a new property (developer should be able to provide this for you). If it is relatively new ie less than 10 years a QS could help. If older, try a valuer and use your 2.5% of the building value.
The building is about 8 years old, so I will go with a QS. Many thanks for your suggestions.
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