The Benefits of Virtual Site Inspections for Depreciation Reports

Introducing vKoste

Since March 2020, the Koste team has been implementing the first virtual Tax Depreciation site inspection service to assist our Quantity Surveyors in the current environment of COVID. With the restriction, we have launched vKoste as our new solution to complete tax depreciation site inspections virtually.

As market leaders in Tax Depreciation, we aim to be innovative and adaptive in terms of our services and products.

We are challenged by the current environment, which is now with us for the foreseeable future. Koste has been working with a team with a wealth of knowledge in new technology. New technology and solutions will inevitably change the way our industry operates. Therefore, the way we interact with clients, tenants, and business partners has now changed from a typical face-to-face interaction we once knew.

In Fact, inspections are a crucial part of our industry, especially collecting data on commercial and second-hand residential properties. With vKoste, our Quantity Surveyors are able to continue the site survey with the landlord or tenant to provide the maximum tax deductions for clients.

Over the last 3 months, Koste has been trialing site inspections carried out virtually between our Quantity Surveyors, clients, tenants, and property managers.

Having completed in excess of 100 virtual site inspections over this period, including interviewing clients, tenants, and property managers, we can confirm this is now the preferred option over physical site inspection.

Most importantly. the virtual inspection also brings with it many added benefits such of which are listed below:

·         Flexibility with Inspection times
·         Social Distancing rules not applicable
·         Less tenant intrusion
·         Video evidence stored off the property
·         Ability for clients to attend the inspection
·         No need to take lengthy notes
·         Quantity Surveyors attend all inspections

vKoste sole purpose is to help property investors maximise tax depreciation deductions whilst meeting current social distancing rules. We understand this is a challenging situation and we would love to offer different solutions to clients to adapt to the changes.

As a result, our new technology helps deliver on this, whilst providing clients with a service not yet available through other Quantity Surveyors. All videos stored on our secure servers are encrypted to meet data controls and privacy obligations.

Should you wish to discuss the process in more detail, or order a tax depreciation report with virtual inspection, please call a member of our team on 1300 669 400 or chat with us online.