Valuations for Strata Unit Replacements Costs
Here at Vals TAS, we are a professional valuation company, offering a wide range of valuations across all property types, to suit our clients requirements. We provide industry expert valuers to conduct specific valuations, including a strata unit replacement cost valuation.
What is a strata unit replacement cost valuation?
A strata unit replacement cost valuation determines the cost of demolishing and rebuilding the building in a situation where a disaster has affected the property. Strata unit replacement valuations are needed to ensure that a strata unit is adequately covered by the building insurance for the cost of replacement and rebuilding. An independent, certified property valuer is able to determine this value. The valuer accounts for:
- Any costs to remove debris
- Costs for demolition
- Fees associated with redesigning the building
- Cost of labour and materials
- Construction works
- Government fees, including taxes
- Cost of replacing building and common areas
For a valuer to determine the replacement cost of the strata building, the valuer will perform an investigation, which includes: inspecting the building, noting the size and layout and also the fixtures and features. These details will feature in the final report as well as the breakdown of each cost involved with the building replacement. It is mandatory for all strata buildings to have building insurance that covers the cost of the building replacement.
Why choose Vals TAS for your unit replacement valuation?
Clients seek out our specialised valuers to provide unit replacement cost reports as we have over 20 years’ experience within the industry. We conduct comprehensive investigations into various factors of the property and tailor our valuations to suit our clients requirements. Our finalised valuation reports are legal documents which meet the criteria of government legislation.
If you require a valuation for strata unit replacement costs, or if you would like to find out more information on how we can assist you, reach out to our specialised team today on (03) 6108 2178 and a member of our team 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.