Recommendations for Depreciation schedule/report BNE northside

First time IP owner and it has been suggested that I obtain a Depreciation Report. Can anyone please recommend a firm who does these inspections and reports.

 

I always use Deppro.

Should get a discount if you mention PC.

 

Go via Depreciator - ask for Grant Roberts

 

I've used BMT on numerous occasions and couldn't be happier. I'm told if you tell them you're a member of this forum you'll get a discount.

 

How much does it typically cost thru them?
I got quoted $1k for two IPs through another mob.

 

Depending on what type of report you require. If you want the whole detailed/itemised report than Depreciator is highly recommended on this forum. They are usually $800 or less but you will save more than on the report alone.
If you just want someone cheap who will only use area stats/figures PM me.
I've used them once before (T/H in Wynnum) and got one of the reputable guys on this forum to analyze it and the result was surprisingly quite good. This company was able to obtain my building plan and somehow had a list of the inclusions. Not sure if other companies will do that if you order a report without a QS to attend site.

 

The fee depends in part on the age of the property, the location, and what information you have.
The gang (Depreciator) are all back at work this week. It's always slow in January, so they'll be up for a chat. Give them a call on 1300 660033. Make sure you mention you are from here.
Scott

 

From memory, the last one booked was $605 incl GST and with the PC discount. This was for one IP, you might get a better price for two.

The main reason I use Deppro is:- about 12 years ago, I had two Depreciation Scheduled done, one with Deppro and one with another mob.

Very similar properties (4/2/2, similar sqm, similar age, both in Brisbane, ...) but the building allowance in the Deppro report was $2,000 more than the other mob.

Back then, I innocently thought that, if two QS did a Depreciation Schedule on the exactly same property, the schedule would be very similar/the same. Now I know better.

So, it is not so much how cheap can one get a Depreciation Schedule; it is more about which Depreciation Schedule will have the biggest, positive impact on my after-tax returns and my cashflow.

The mistake I made was that I should have paid Deppro to do a Depreciation Schedule on the second property. Being more green back then, I didn't know I could .

 

There is one company being mentioned on this thread that I used once and would never, ever use again. When I got the report the figures didn't look right and when queried the customer service was terrible. I took the report to Washington Brown (who I now use exclusively) and they literally doubled the figures from said company's report in the first year alone.

The director was belligerent and confrontational and the simple fact that their report had half the depreciation on the exact same property was proof enough their product doesn't live up to the likes of BMT and Washington Brown. As always, you get what you pay for. Don't try to save a couple of hundred dollars up front to miss out on thousands in lost deductions by having a B grade company complete your report.

- Andrew

 

Hi Andrew

Would you be able to PM me the name of the referred company please?

I just had one done and want to make sure it's good!

Thanks

 

I called up one of these companies last month and was on the back foot straight away. Wasnt a friendly experience so went back to BMT who make it so easy.

 

I'm pretty sure it wouldn't have been us. The gang here are pretty friendly and helpful.

 

I use Depreciator for my own and clients properties every chance I get. I don't get any kickbacks (i do get a slight discount), but just easiest to deal with.

I've had BMT call me say they've had one of my landlords organise one wanting me to facilitate acess, but can't come out for like a month. Frustrating.

 

That's unusual, DT. Normally the lead time is about a fortnight or so if it's local. We did have a slight backlog from the holiday period but I'm surprised that it blew out to a month.

 

I suppose it's of little consequence now but I did look into this. It seems it was a case of not being able to contact the tenants. As above, normally our lead time is approximately two weeks but unfortunately on occasion we are unable to gain timely access to the property because we can't settle on a time and date. I agree: it's frustrating, but it doesn't happen often and we're always working with property managers to better facilitate our inspections.