Figuring costs of damaged items - Landlord Forum thread 344549

Figuring costs of damaged items by Maureen on April 20, 2016 @23:24

Property was rented for about 20 months, and is now on the market.

Last tenant caused lots of damage, but I've been reading that I need to depreciate the damaged items, which I find a little confusing.

Example: Tenant removed 8 year old oak vanity from bathroom and replaced with a vanity of her choosing. She removed "her" vanity when she left, and replaced the original vanity was a very cheap one. In determining the cost to charge for the missing vanity, should I check Craigslist for a similar, older oak vanity and use that value?

Stranger example: House's kitchen cabinets are from 1962 and were built in place. Tenant cut up one of the cabinets and it has to be repaired. I can't buy a replacement cabinet, but I must repair the custom cabinet. Do I charge the actual cost to repair the cabinet, or do I figure that the cabinet was fully depreciated and charge just a fraction of the cost?

(I always see where people caution that when carpets are damaged, the depreciated value must be used when charging tenants, because there would be normal wear and tear in addition to stains and so forth. I assume the same is true for vanities and cabinets?)

Thanks in advance.

[ Reply ] [ Return to forum ]

Re: Figuring costs of damaged items by Anonymous on April 21, 2016 @08:23	[ Reply ]

loss and damage are sort of like horse trading, or in modern times used cars... Ya have to size up the other guy and try and get what you can,....within reason. ''Antique' kitchen cabinets don't really have a place in rental property,....they're really just ''old''. charge for the repair, make sure it's reasonable and be prepared to document it with an invoice marked paid and the back up check. LL's with legitimately ''historic properties'' need to have proper insurance coverage and DETAILED EXHAUSTIVE LEASES signed by properly vetted and informed tenants. your tenant should not have removed your installed vanity without your written permission, that should have been in the lease and the tenant should certainly not have disposed of your removed vanity or destroyed it while removing it. If you have photos of ''before'' -- try a conversation. 18 to 24 months is a real gray possession area for normal vs excessive wear and tear vs damage if tenant was a good payer and otherwise hassle free, you may have had what I refer to as a '''good type of professional tenant''' ie one that moves around frequently, wears the property a little on the heavy side but meets their obligations and says thank you. That type of pro tenant really ain't that bad and you're gonna experience them over the years that tenants come and go. Rental properties are like cans of beans on the shelf. Try not to get emotionally involved. It's maintainance and housekeeping. You're in the business of trying to get rich from owning and renting income real estate, not loss, damage and repairs.

Re: Figuring costs of damaged items