Re: Tenants Cats ruined carpet - Landlord Forum thread

Re: Tenants Cats ruined carpet by Cj (indiana) on May 22, 2012 @19:43

What do you depreciate? Just the Carpet?

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Re: Tenants Cats ruined carpet by Anonymous on May 22, 2012 @19:51	[ Reply ]

Whatever it cost to put the carpet down 4 years ago is the starting point. Then figure out the life expectancy for carpets. Google up 'rental carpet life expectancy' or something like that. So, if you paid $1,000 for carpets 4 years ago, and the life expectancy is 10, they are on the hook for 60%, in this case $600. If you go out and replace them with $10,000 carpets (for the sake of argument), they still owe you only $600. If you get a break from carpet depot and can replace them for $500, they still get charged $600. Point is: Original value (not replacement value), times depreciation.