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  6. When charging back an appliance on a final statement, how are those typically prorated?

When charging back an appliance on a final statement, how are those typically prorated?

Topic Author
Amanda Buyalos
  • Posts: 2
  • Thank you received: 0
2 years 2 months ago #635836 by Amanda Buyalos
When charging back an appliance on a final statement, how are those typically prorated? was created by Amanda Buyalos
When charging back an appliance on a final statement, how are those typically prorated?
2 years 2 months ago #635836 by Amanda Buyalos
Rich George
2 years 2 months ago #635837 by Rich George
Replied by Rich George on topic Re: When charging back an appliance on a final statement, how are those typically prorated?
According to MACRS, appliances, carpeting and furniture in residential real estate, including devices like refrigerators, ovens and stoves, are depreciated over five years.
2 years 2 months ago #635837 by Rich George
Miles Scruggs
  • Posts: 47
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2 years 2 months ago #635838 by Miles Scruggs
Replied by Miles Scruggs on topic Re: When charging back an appliance on a final statement, how are those typically prorated?
Rich George that is great for the IRS and rarely applies to anything else. For instance if a tenant damages a 6 year old vehicle is there responsibility $0 because the “value” of the vehicle is fully depreciated? This is highlighted by the fact that a range and carpet have the same life which obviously isn’t reality for the property.
2 years 2 months ago #635838 by Miles Scruggs
Rich Georgge
2 years 2 months ago #635839 by Rich Georgge
Replied by Rich Georgge on topic Re: When charging back an appliance on a final statement, how are those typically prorated?
The MACRS standard is what most judiciaries that I have encountered in numerous states accept. That is the standard for the “normal wear and tear” that judges account for lacking any other standard. You can charge whatever you want but at least here you have a defendable argument.
2 years 2 months ago #635839 by Rich Georgge
Chris Finetto
  • Posts: 41
  • Thank you received: 7
2 years 2 months ago #635840 by Chris Finetto
Replied by Chris Finetto on topic Re: When charging back an appliance on a final statement, how are those typically prorated?
Replacement cost… Apartments are like a rental car… You total it, you’re buying a replacement… Anything less is a concession…
2 years 2 months ago #635840 by Chris Finetto
Samantha Figerella
2 years 2 months ago #635841 by Samantha Figerella
Replied by Samantha Figerella on topic Re: When charging back an appliance on a final statement, how are those typically prorated?
That depends for me. They blow up my microwave by putting metal in there they are charged for the full replacement. My maintenance team can typically tell if it is the tenants neglect or if it is just time to replace.
2 years 2 months ago #635841 by Samantha Figerella
eric rivera
  • Posts: 39
  • Thank you received: 1
2 years 2 months ago #635842 by eric rivera
Replied by eric rivera on topic Re: When charging back an appliance on a final statement, how are those typically prorated?
I wouldnt think it should be prorated. Thats not a wear and tear item. That fits into damage or theft!!
2 years 2 months ago #635842 by eric rivera