Uncategorized May 30, 2011

Damages vs. Wear & Tear

That by state law a tenant  cannot be charged for any normal wear and tear that occurs to the rental property?  Even if a tenant does damage to the property the cost of repair or replacement may need to be depreciated.  For instance, HUD says that interior paint in a rental has a life expectancy of two years and carpeting has a life of  six years.  Based on this, if a tenant has been in the property for more than two years, painting would be considered normal wear and tear.  If the carpeting was new at move in and after three years the carpeting had to be replaced again, the owner could charge the tenant for half the cost of replacement.