From PropertyTalk.com Community Wiki

Repairs Maintenance Improvements

A repair is replacing or fixing something that is broken (e.g. tap washer, broken window, oven element).

Maintenance is taking action in advance to ensure things keep working as expected (e.g. sweeping the chimney to avoid house fires, lubricating windows so they don't stick, cleaning gutterings so they don' overflow and cause water damage to the house).

An improvement adds a new feature to (or upgrades an existing feature of) the property (e.g. adding a heatpump where there was no heating before, converting a carport to a garage, replacing an old kitchen with a new modern one).

Generally if the item is under $500 it can be claimed as an expense against the property. Generally if it is over $500 it must be depreciated over its useful life rather than expensed in one year. Consult your accountant for more information about the accounting treatment of repairs, maintenance, and improvements.

Subcategories

There are 9 subcategories to this category.

C Council regulations I Improvements M Maintenance

M cont. Minor Dwellings P Painting Products / materials R Repairs

T Tools W Ways to add value

Articles in category "Residential:Repairs Maintenance Improvements"

There are 6 articles in this category.

E

• Environmental and Ethical Considerations

H

• Home Staging

M

• Moving the Letterbox

N

• New Energy Efficiency Requirements

R

• Renovating To Profit
• Renting Minor Dwellings