Each lot in a strata complex is assigned a unit entitlement. A unit entitlement is basically the percentage of the total value of all the lots in the strata scheme. A unit entitlement is an estimate that the developer makes about the value of each lot within the strata scheme. Knowing what your unit entitlement is worth can reduce the possibility that there will be inequality or conflict in the strata scheme.
If you want to know what your unit entitlement is worth then it is imperative that you get it valued by an independent and registered property valuer who can properly assess the value of the unit entitlement.
Why is a unit entitlement valuation important?
A unit entitlement within a strata scheme is important because it will be used to calculate:
Your share of the levies;Your interest in the common property;Your voting rights in any polls.
Therefore if your unit entitlement is undervalued your voting rights will not be as much as they should be whereas if your unit entitlement is overvalued then your strata fees will be too much and you will be out of pocket when you shouldn’t be.
Why choose us for your unit entitlement valuation?
Valuations TAS is part of a nationwide firm. Being a nationwide firm we have developed robust systems and procedures to ensure that any valuation that we arrive at has been carefully considered and is a true and factual representation of what the property is worth.
Before going out into the field our Valuers undergo extensive training and have gained a minimum of 15 years valuation experience before they go and work in the field. They are also Certified Practising Valuers (CPVs) recognised by the Australian Property Institute (API) so they participate in periodic training programs to help them enhance and develop their valuation skills.
All of their valuation reports are completed with diligence to the highest standard. The high standard of our valuations means that they are accepted by government bodies and can also be used in various Australian courts.
When a client enlists our services for a unit entitlement property valuation they can be assured that they are dealing with an expert in the field who will treat their matter with the confidentiality it deserves so to get started give us a call on (03) 6169 2559.