Carpet Depreciation: How Long It Lasts and Landlord Responsibilities Explained
Carpets depreciate over 5 years if tacked down. If glued down, like in basements, they are fixed to the property and depreciate over 27.5 years. These distinctions are vital for accurate property accounting and tax reporting under current accounting standards. During a tenancy, landlords are typically responsible for normal wear and tear. This includes issues … Read more