Which of the following factors can affect property depreciation?

The choice regarding market conditions and age is the best answer because both of these factors directly influence how property is valued and, consequently, how it depreciates over time.

Market conditions refer to the broader economic state, including supply and demand dynamics, which can significantly impact property values. For instance, a downturn in the real estate market can lead to a decline in property values, increasing depreciation. Conversely, a booming market can enhance property values, potentially slowing down depreciation.

The age of a property is another critical aspect, as older properties typically experience depreciation due to wear and tear, outdated facilities, or diminished aesthetics compared to newer developments. As properties age, they may require more maintenance and updates to meet current standards, and if these updates are not made, the property can lose value more rapidly.

In contrast, while employee turnover, brand reputation, and quality of service may influence a business's operational effectiveness and customer satisfaction, they do not directly affect the underlying property value or its depreciation in the same way market conditions and age do. Thus, the proper understanding of how these economic factors and the physical state of the property relate to depreciation highlights the significance of the chosen answer.