A rental review is a valuation report completed to determine the correct rental value of a property in accordance with the current rental value. Although rental reviews are more common in commercial Leases, residential tenants also have the option to request a rental review.
A rental review can be beneficial for both the tenant and the property owner. Knowing the value of the property will ensure that the tenant isn’t paying more than they should be and that the owner isn’t receiving less than they should be. A valuation will determine the correct rental amount which should be paid, reflecting the true value of the property. At Vals TAS, our team of specialised and independent property valuers have over 20-years of industry experience to ensure that tenants are paying the correct rental sum.
Upon assessment, our valuation reports look into both external and internal factors of the property to determine the rental value. This will include:
- Size and location of the property
- The condition of the property
- Any comparable Leases in the surrounding areas of the property
Rental reviews are usually organised every few years to ensure that the rental value remains correct and in line with the current rental value. Alternatively, rental reviews are also regularly used when entering into negotiations between landlord and tenant. An independent property valuation will provide a certified valuation report which states the true value of the property.
Why choose Vals TAS?
Vals TAS provide an outstanding level of customer service and deliver a conclusive report which is accurate and reliable for rental review purposes. All of our valuers are registered with the Australian Property Institute (API) and produce property valuation reports which meet the criteria to be accepted by governing bodies. We also cater for services for insurance cost estimation, grant applications and business valuations.
If you require a property rental review valuation, or would like to find out more information about how we can help you, please call our team of experts on (03) 6108 2178 and we will be happy to help. Alternatively, complete one of our online enquiry forms and a member of the team will get back to you shortly.