Search found 3 matches

by Whamcloud
Wed Mar 13, 2024 10:09 pm
Forum: Taxes & finance
Topic: Renovation Costs as Depreciation for Rental Property
Replies: 7
Views: 2055

Re: Renovation Costs as Depreciation for Rental Property

Thanks a bunch, MunichPanda, for the thorough explanations and links! That's incredibly helpful. I have one follow-up question. The property is currently vacant, and I'm thinking about renting out some or all of the units at a discounted rate – something fair for the tenants given the condition and ...
by Whamcloud
Tue Mar 12, 2024 8:59 pm
Forum: Taxes & finance
Topic: Renovation Costs as Depreciation for Rental Property
Replies: 7
Views: 2055

Re: Renovation Costs as Depreciation for Rental Property

Escafusa wrote: Tue Mar 12, 2024 8:49 pm Did you buy the whole building? Is just one of the flats still occupied?
I own the whole building; it came with one tenant who has moved out. Just a garage is rented at the moment.

We could of course rent all 4 apartments before renovation if it had a big advantage.
by Whamcloud
Tue Mar 12, 2024 8:39 pm
Forum: Taxes & finance
Topic: Renovation Costs as Depreciation for Rental Property
Replies: 7
Views: 2055

Renovation Costs as Depreciation for Rental Property

Hi everyone, I'm glad this forum is back up and running – it's been a valuable resource for me in the past. I bought a fixer-upper rental property a year ago. It needs a major overhaul, including new heating, insulation, windows, bathrooms, etc. The location (close to my home) and price were too goo...