Has anyone had experience with replacing a roof for environmental reasons? If so what is the difference between repairing the roof and improving the roof?
fyi, I understand that replacing a roof is considered an improvement and therefor it is depreciated at 2.5% over the life of the roof. I am looking at a ruling where the roof is required to be repaired by replacement because the materials are a health risk to the tenants, ie asbestos roof.
Maybe the roof collapsing due to degradation or the possibility of it coming off in a storm is also a health and safety risk.
I think asbestos roofes have a instant tax writeoff available for them.
look at the linked api article.
The only word of warning is that the asbestos roof has to actually deteriorate whilst you own the property.
So you couldn't buy a home that needed the asbestos repaired at the point of sale.
I know this is outdated, but for those who are really confuse, there is no more reliable than consulting a roofer themselves. Whether it be a residential or a company. Just a piece of information, if the roof is significantly old with damages, like it is past the supposed age better replace it.
Cheers.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
