The Australian Property Institute recommends the measurement of area in accordance with Method of Measurement published by the Property Council of Australia and International Property Measurement Standards published by the International Property Measurement Standards Coalition. The accurate measurement of area is a critical step in assessing a market rent, noting that different property classes have different measurement methods, which can have a significant impact on the market rent. ‘Market rent’ is defined by the International Valuation Standards Council (IVSC) as “ the estimated amount for which an interest in real property should be leased on the valuation date between a willing lessor and a willing lessee on appropriate lease terms in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion.” The terms of the lease including incentives, outgoings, review formulas and permitted use are some of the many elements to be considered when assessing the market rent. When undertaking a market rent valuation, it is important to have an understanding of both the terms of the lease and any relevant legislation governing the lease, which in many instances includes the provisions of the Retail Leases Act 2003 in Victoria and the Retail Leases Act 1994 in New South Wales. Service we offer give us a call on (02) 6189 2232.Sovereign Valuations is experienced in undertaking market rent valuations and determinations with experience across all major property classes. To get started with a rental assessment valuation or find out more about the After we have inspected your property we will send a residential property valuation within 2-3īusiness days and you can expect a commercial or industrial valuation within 5 business days. Property within 48 hours of your enquiry, however sometimes if our schedules allow, we can do so the very Great pride in delivering a high level of customer service to you so we always strive to inspect the We have valued thousands of properties over the last 20 years and we take When you contact us so we can ensure that your valuation report is appropriately prepared. If you do require the valuation for court please let our staff know Every valuation we supply is a sworn legalĭocument so it can be used in court. The valuation will be well researched and will containĭetails of the rents of comparable properties in the area. Pages compared to 25 pages for commercial property. What is a rental assessment valuation?Ī rental assessment valuation for residential property is approximately 13-15 Residential The property’s location The size of the property The condition of the property. Our property valuers are thorough in their valuation approachĪnd will assess: The property’s zoning – whether it’s commercial or Sometimes the property databases are not updated for three months. To real estate agents and community members to find out information that might not yet have been published Property databases, discussions with local real estate agents and local community members. How is a rental assessment valuation calculated?Ī rent assessment valuation is based on a great deal of information from both
To: Commercial property Industrial property Large commercial property Residential property Small retail and office space. Valuations ACT property valuers are highly skilled and haveĪttained all the qualifications necessary to value a variety of property types including, but not restricted To value properties so when you receive a valuation from us giving you confidence that any valuation weĬomplete for you is an accurate representation of the rent that you should be paying or receiving for your
#RENTAL PROPERTY EVALUATOR PROFESSIONAL#
Our Valuers are professional and have acquired all the relevant qualifications Valuations ACT has a long track record in valuing properties and have been in the If you want to find out the value of your property then Valuations ACT shouldīe your point of call. Means that when there is significant demand, rental values will be higher than in periods of low demand. Is no different and it is influenced by the same market forces that buyers and sellers experience. Similar to property prices when you’re buying or selling, the rental market
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