Strata scheme insurance valuations Sydney and NSW
Current legislation requires Strata Schemes, Strata Managers or the Owners corporation obtain regularly up to date building replacement and reinstatement insurance valuations from qualified valuers, under the Strata schemes management ACT 2015.
Quadrant strata scheme insurance valuations provide strata schemes with professional easy to read insurance valuations, outlining current replacement costs, along with itemised breakups of all issues and costs relevant to your unique situation.
Strata insurance and unit entitlements
(Certification, allocation or re-allocation and amendments)
Legislation does require an appropriately qualified independent Valuer to certify new strata developments unit entitlement allocation prior to registration. In most cases only on dispute or request for re-allocation on unfair initial allocation grounds, would the unit entitlement be reviewed and re-assessed at all?
Rates and strata scheme unit sales etc are all often based on these unit entitlements, so it’s important to know is your scheme fair and equitable?
Quadrant provided fast reliable valuations on unit entitlements for initial certification, re-allocation assessment for all situations.
Strata scheme common property valuations
Strata Schemes are owned by the Unit Entitlement holders, basically the individual unit/Lot owners. These owners represented by a Strata Manager or the Owners corporation who manage the day to day duties of the Strata Scheme manage and maintain the common property. The common property are the areas outside those individual units/Lots, such as stairwells, driveways, garden areas, the areas all unitholders share. These areas are all commonly owned by each unit/lot holder.
It might be an open area not allocated to a particular unit/lot that could be made into another parking space, it may be loft area or the air-space above a top floor unit, a storage area in a basement etc. These areas hold value and on occasion, a particular unit/lot holder may wish to purchase such an area to be added to their unit/lot and entitlements. These areas can be transferred on Title or by Exclusive Use by-law etc and all hold real value.
A Strata Scheme and its owner corporation have a duty to its owners/entitlement holders to have an independent valuation conducted on the value of the common property should it even be considering selling rights to a particular owner.
General building insurance valuations
Whether it be a residential house, commercial building, retail shop, industrial factory or Strata Title home unit, our Insurance valuations provide all the up to date information you require.
Quadrant Building Insurance Valuations focus on the current market replacement value. They break down the various costs — legal fees, administration, demolition, removal of debris, replacement building costs, including environmental issues.
Quadrant Valuations Sydney
Quadrant Valuations are Sydney valuers specialising in valuations for the residential, strata, industrial and commercial property markets. We offer independent valuations and property assessments for all situations. We provide real estate value consultancy services for all property types along with a range of easy-to-read and interpret valuation reports tailored to the client’s individual needs. Importantly, we are members of the Australian Property Institute (A.P.I) and bound by a strict code of ethics.
Established in 1980 and with a head office in Sydney, our highly experienced valuers covers the entire Sydney metropolitan area including the Sydney CBD, Northern Beaches, Upper and Lower North Shore, Eastern Suburbs, Western Sydney and NSW wide on specific request.
We provide valuations and property reports for all clients including private property owners, investors, business owners, legal and accountancy firms, surveyors and Government departments.
We are qualified in expert evidence for legal matters requiring a single party reports or the services of an expert witness in litigation, family law and probate matters with over 30 years of experience to draw on.
We are active Associate Members of the governing body the A.P.I (Australian Property Institute) and bound by a strict code of ethics.
Contact us for all your real estate valuation needs
Tel: (02) 9999 6582