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Recommendations for Depreciation schedule/report BNE northside

Discussion in 'Property Management' started by Euni, 9th Jan, 2017.

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  1. Euni

    Euni Member

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    MEL
    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.
     
  2. kierank

    kierank Well-Known Member

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    I always use Deppro.

    Should get a discount if you mention PC.
     
  3. jchan86

    jchan86 Well-Known Member

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    Go via Depreciator - ask for Grant Roberts
     
  4. Hedgy

    Hedgy Well-Known Member

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    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.
     
  5. mikey7

    mikey7 Well-Known Member

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

    bread_boy Well-Known Member

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    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.
     
  7. Depreciator

    Depreciator Moderator Staff Member Business Member

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    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
     
  8. kierank

    kierank Well-Known Member

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    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 :) :).
     
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  9. MyPropertyPro

    MyPropertyPro Property Management Business Member

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    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
     
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  10. Noobert

    Noobert Well-Known Member

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    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
     
  11. Shady

    Shady Well-Known Member

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    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.
     
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  12. Depreciator

    Depreciator Moderator Staff Member Business Member

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

    D.T. Specialist Property Manager Business Member

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    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.
     
  14. BMT Tax Depreciation

    BMT Tax Depreciation Chris Business Member

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    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.
     
  15. BMT Tax Depreciation

    BMT Tax Depreciation Chris Business Member

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    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.