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  • Deal direct with the valuer
  • No obligation, free telephone consultation
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  • Speak directly with a qualified professional valuer start to finish
  • Personal Service
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Unit Entitlement Valuations

A large part of our business involves the valuation of strata and community title developments to establish the unit entitlements. Personally, I enjoy conducting unit entitlement valuations, it is a good opportunity to see new unit/townhouse and subdivision designs and stay abreast of the 'brand new' market.

So what is a unit entitlement valuation and what does it involve?

If you have ever seen an older strata plan you will notice that generally the older schedules were based on a percentage of total area, whereby the larger the unit in the building; the greater the unit entitlement; there was generally no legislative framework in place and the unit entitlement could be allocated however the developer saw fit. This became an issue over time as greater density apartment complexes were constructed. Issues such as a top floor penthouse apartment with water views paying a lesser proportion of strata levies to a groundfloor unit with no views and an inferior fitout. It was considered to be unfair as the penthouse would obviously have a substantially higher value.

Changes to the legislation have ensured that unit entitlements for new strata schemes and reevaluations of existing strata schemes must now be conducted by a suitably qualified property valuer (This is where Independent Property Valuations come in). New strata schemes require that the unit entitlement schedule must be compiled in reference to a property valuation; whereby the individual strata lots are given a unit entitlement based on the market value of the particular unit having regard to size, views, elevation, aspect etc.

Independent Property Valuations offers a transparent process for providing a unit entitlement schedule (admin sheet). One of our qualified and experienced valuers will take charge of the process, by review of approved building plans, schedule of finishes, draft strata plan, and a physical inspection of the development will ensure your unit entitlement schedule is completed in a timely and accurate manner.

Call us todayor send us a message and speak with a valuer not a robot or call center!

 


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