{"id":10636,"date":"2017-03-05T07:00:00","date_gmt":"2017-03-04T20:00:00","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=10636"},"modified":"2017-03-05T07:00:00","modified_gmt":"2017-03-04T20:00:00","slug":"is-a-depreciation-schedule-a-good-indication-of-value-brad-beer","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/is-a-depreciation-schedule-a-good-indication-of-value-brad-beer\/","title":{"rendered":"Is a depreciation schedule a good indication of value? – Brad Beer"},"content":{"rendered":"

Sonya asks if a depreciation schedule is a good indication of a unit\u2019s value.\u00a0 It appears an agent said it is just an estimate.\u00a0 Brad Beer<\/b> from BMT Tax Depreciation sets the record straight.
\nTranscripts:<\/strong>
\nKevin:\u00a0 <\/b>I had a question from a listener during the week who writes, \u201cI inspected some units currently being constructed and was shown a depreciation schedule. The agent said it was just an estimate. How reliable would it be, and is it risky using these estimates to calculate the unit\u2019s viability?\u201d
\nTo answer that question, a man who knows all about tax depreciation schedules, Brad Beer from BMT Tax Depreciation. Good day, Brad.
\nBrad:\u00a0 <\/b>Hi, Kevin.
\nKevin:\u00a0 <\/b>Sonya\u2019s question there, is that something she should be cautious about?
\nBrad:\u00a0 <\/b>It\u2019s an interesting question. As quantity surveyors, we do a lot of estimates of what sort of depreciation might be available. The important thing is looking at who it\u2019s being prepared by. Has the builder prepared it? Has a specialist quantity surveyor prepared it? What exactly the numbers are made up of. Have a look at it.
\nNow, we have calculators on the website you can use to check against. You can talk to us or someone who\u2019s reputably doing depreciation. It should have a minimum and maximum range of depreciation potentially available.
\nObviously, it\u2019s an estimate. When we\u2019ve done that as an estimate, we don\u2019t have all the information. But we\u2019ve done a lot of depreciation schedules, so if we\u2019ve done it, and we know what we\u2019re doing, we should come up with numbers that you should be able to rely on being pretty close to the truth.
\nUsing the minimum or a bit less than the minimum to be really safe is the thing to do. Making sure it\u2019s prepared by someone who knows what they\u2019re doing is the important thing.
\nKevin:\u00a0 <\/b>Are these depreciation schedules, or the supply of these, regulated in any way, Brad?
\nBrad:\u00a0 <\/b>The regulation is not very heavy as far as an estimate like that. The costs that are used for the purpose of depreciation \u2013 a quantity surveyor\u2019s cost \u2013 will be acceptable. Sometimes a thing to be a little bit wary of is when it has an agent or someone who is selling you the property. It\u2019s probably in their interest to make the numbers look high, so you really want to double-check it or make sure it\u2019s done by a reputable company that\u2019s not prepared to move the numbers to help sell the unit. That\u2019s the thing to be really careful of.
\nKevin:\u00a0 <\/b>How would you check out their credibility? Go to their website?
\nBrad:\u00a0 <\/b>Go to their website. Ask your accountant, \u201cHave you used their report?\u201d Have the accountant have a look at that. If it\u2019s not done by a depreciation specialist, get a depreciation specialist to actually have a look at it.
\nKevin:\u00a0 <\/b>That\u2019s actually a very good point \u2013 going to your accountant \u2013 in all of these things. If you\u2019re buying any property, you should always be checking with your accountant and your solicitor, and running it by them anyway.
\nBrad:\u00a0 <\/b>If they\u2019re an accountant who deals with property investors \u2013 and if you\u2019re a property investor, you probably want that to be the case \u2013 they will probably have specialist depreciation guys that they regularly do use. Maybe the accountant would want to ask their contact, just to get a double-check on that to make sure it\u2019s not something done by the builder or something to make it look more than it really is going to come out at.
\nKevin:\u00a0 <\/b>Is it reasonable that someone would want to get their own depreciation schedule done even if they are looking at buying? Would that help them substantiate those figures, Brad?
\nBrad:\u00a0 <\/b>That\u2019s most definitely the certain way as a potential buyer of any property, not just one that\u2019s new that has a depreciation estimate done. There are calculators on websites, and they\u2019re free. You can go in and use them to check and see. Put some of the information in yourself, and see if it comes out close to what\u2019s been provided.
\nYou can always talk to my guys about your particular property, and send us some photos. We\u2019ll have a discussion and give you a rule of thumb based on what we can see. We don\u2019t charge for that to have a bit of a look at it.
\nIf you want to be certain, you get one done properly, absolutely, but normally it\u2019s done after the fact. We can get pretty close with an estimate, and we\u2019ll give you a range. Whenever you\u2019re plugging in and crunching your numbers on property, it\u2019s always good to be conservative to start, and then at the end of the process anything else is a bonus.
\nKevin:\u00a0 <\/b>Very good advice from Brad Beer, one of our recommended suppliers. Of course, all BMT Tax Depreciation\u2019s details are on our website, and you can check out their featured channel, as well. Lots of great information there for you, and in fact a link straight back to their site, as well, if you want to check that.
\nBrad, thank you so much for your time. We\u2019ll catch up again soon.
\nBrad:\u00a0 <\/b>Great. Thanks, Kevin.
\n 
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

Sonya asks if a depreciation schedule is a good indication of a unit\u2019s value.\u00a0 It appears an agent said it is just an estimate.\u00a0 Brad Beer from BMT Tax Depreciation sets the record straight. 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