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Investors & landlords
The contract is an expense and may be listed as cleaning maintenance.
However you choose to list it, be consistent year over year.
If a unit needed a repair to retore it's useful life, that would also be an expense.
The replacement of the Boiler would be an improvement. Please list that as a separate depreciable asset with a useful life of 27.5 is this is a residential rental.
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ā€ˇFebruary 9, 2024
9:08 AM