AnmarieA
Level 4
02-25-2025
02:22 AM
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Yes in my title I say they are Rental Property Special Assessments. The rental property is completely shut down during the repair work as the damage was so extensive that it is taking the resort a difficult time getting the permits approved and therefore the work has not begun. Based on your comment you can not take any expense until they are available for rent again, not certain I have heard of this before as they have utilities, RE Taxes and other operating expenses going on while the units awaiting repair. Are you suggesting I show these as deposits on the balance sheet until the work is complete and the units are open for rental?