Mark Kilroy on Monthly Update Jan 2021 | Koste

 

Hi, Welcome to our January update!

 

I’m Mark Kilroy, the CEO of Koste Chartered Quantity Surveyors.

It’s been a strong start to the year. Investors now more than ever are looking to maximise their tax dollars through depreciation. Over the next 12 months, we’re going to be opening our doors, showing you projects we’ve been working on, speaking with our clients or referral partners, and letting you know what the developments are in our industry. We are also looking at what sort of frequent questions we’ve been getting and answering those over the next 12 months.

We’ve had some interesting projects in January a bit of a range throughout Australia we’ve been doing a shopping centre in Alice Springs for example and we carried that out via virtual site inspection

Due to COVID-19 restrictions and the location of the property I’ve been doing a number of pharmacies throughout northern New South Wales and Queensland and we’ve been doing hotels and restaurants in Toowoomba and Southeast Queensland, we’ve also been doing our January updates for our depreciation management clients

Industry Updates:

It’s been obviously a difficult year for most especially over the last 12 months and it’s changing our way of life

We’ve seen a 200 per cent increase in Australians now moving out into the regions and inner-city commercial real estate demand now dropping to an all-time low It’s been an increase in demand for home offices and co-working places and I believe this is going to be here to stay for quite a while interest rates are at a record low we’ve never had money so cheap and it could be here to stay for a further three years is what they’re saying in the industry

Koste has also had to embrace change this year. We’ve introduced our vKoste service which is our virtual site survey service. This is actually taken over as our top residential package now for residential clients to select.

Our business is also in the final stages of industry-leading asset and tax appreciation software development and we’re telling you more about this in the coming months, but I’m hoping this will be available in our February edition.

We’ve been working with industry bodies such as the AIQS and the RICS setting new standards for the industry especially for quantity surveyors who are practising tax depreciation we’re working with them to make sure everybody is providing the highest standard of service and ensure full compliance.

Whilst we’ve paused our internship program where we’ve had more than 50 interns coming through the Koste program. We’re continuing to support the industry working with young professionals coming in to get them qualified as Chartered Quantity Surveyors over the next 12 months.

As many of our competitors have been increasing fees obviously with the pandemic and so forth we’ve tried to keep our fees the same we’ve varied some of our services and introduced vkoste through the virtual site surveys to keep the cost down.

We’d encourage those who would like to find out a little bit more about that to click on the link below.

We also welcome in January 50 new referral partners to our scheme and if anybody out there is watching who is not part of our referral scheme, please get in touch and we’ll tell you a little bit more about that. It’s a great scheme to join.

We have continued to do education throughout the month of January. We’ve been doing virtual presentations through zoom and so forth. We’ve also just started back with our face-to-face presentations recently completing a presentation to HSBC Australia earlier this week.

We’ll also be doing our video series where we’ll be providing testimonials from our clients and referral partners throughout Australia. We’re rolling that out over the next 12 months starting with Gold Coast and we’ll be rolling that out for you to watch and see what our clients have to say.

I guess looking at top questions I get questions on a daily basis from accountants and referral partners and so forth. The most asked question is generally my accountant said the property is too old and there’s no point in getting the tax depreciation schedule you know because the legislation changes and so forth.

Well, I challenge that, you know Koste offers 3 times our fee in the first year or the report is free and we’ve not actually given out too many of those free reports so if your accountant says you know there’s no depreciation benefit challenge Koste to that and you know to get in touch with us and we’ll give you the report free if we can’t match three times our fee in the first year.

Thanks for watching the video, we hope this monthly update will give you a bit of an insight into Koste and what’s been going on in the industry and you know we encourage anybody who can benefit from depreciation to get in touch and give us a call.

Thanks very much,

Mark Kilroy
CEO

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