What happens if the furnishings need replacing?
Your apartment will be left to you in a normal sate of wear and tear at the end of the lease-term. As the owner of the furnishings you are normally responsible for replacing furniture when it has been damaged due to normal wear and tear, although any damage or breakage would of course be covered by the tenants’ damage deposit and will be charged for. Some management companies will replace the furnishings even in the case of normal wear and tear and this will be written into the lease contract. Furnishings are amortised over a period of 10 years at the rate of 10% per annum and will have therefore paid for themselves in tax savings after 10 years.
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