Page 16 - Bellcourt Property Group | 85A & 85B Thornlie Avenue THORNLIE

RECOMMENDED ADDITIONAL

SERVICES

DEPRECIATION SCHEDULE

When should I have a depreciation schedule created?

The best time to create a property depreciation schedule is as soon as you settle on
a property. Doing it immediately after settlement will provide the most accurate
values and reduce disruptions for any tenants that may be moving in. You should
also create a depreciation report before and after any scheduled renovations on
income-producing properties, as these renovations can provide significant tax
deductions.

Our property Management department encourages owners to look into this and we
are happy to arrange on your behalf with companies we can highly recommend.

LANDLORD PROTECTION INSURANCE

It is recommended that all landlords protect themselves against all risks associated
with the investment industry. Protecting your investments should be a main concern
of yours. It safeguards against unexpected and unforeseeable events that could
damage your properties and potentially leave them uninhabitable and
unprofitable.

Furthermore, sometimes these plans can cover profits lost due to sudden loss of
tenants. If renters abandon your property and stop paying rent, this will allow you to
keep covering any expenses or making any repayments associated with the
property while you prepare it for the market again.

Of course, the only way to be completely sure of the specific plan is to get in
contact with an insurance provider and discuss the options available with the
specific landlord. There are a number of circumstances that can influence these
decisions.

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