Strata building insurance valuers are specialist property valuers who provide valuations for insurance purposes on strata titled properties.
The role of a strata building insurance building insurance valuation valuer is to provide an accurate estimate of the rebuild cost of a strata titled property in the event that it is completely destroyed by an insured event such as fire or severe weather.
This estimate is used by insurers to calculate the premium for strata building insurance policies.
Strata building insurance valuations are typically more detailed and comprehensive than standard property valuations, as they must take into account the unique features of strata titled properties.
Some of the factors that a strata building insurance valuer will take into account when assessing a property include the type and age of the building, the materials used in its construction, the number of units in the building, and the location of the property.
Strata building insurance valuers must be accredited by the Australian Valuation Office in order to carry out valuations for insurance purposes.
What is body corporate valuation?
What is a Body Corporate Valuation?
A Body Corporate Valuation is an assessment of the value of a property strata scheme. It is undertaken by a professional valuer and is generally required by law when a property is being sold or leased.
The valuation will take into account a number of factors, including the number of units in the scheme, the location of the property, the age and condition of the buildings, and any special features or amenities that the property offers.
The valuer will also consider recent sales of similar properties in the area, to arrive at a fair and accurate value for the property.
A Body Corporate Valuation is an important tool for owners and potential buyers or tenants of strata properties, as it provides a starting point for negotiation and helps to ensure that the property is being sold or leased for a fair price.
Who are body
Who are Body?
Body are a company that provide strata valuations. A strata valuation is an assessment of the value of a property that is made up of multiple units, such as an apartment complex or a townhouse development. Body are responsible for determining the value of each unit in the development, as well as the common areas of the property. This information is used by the strata council to set the strata fees for each unit owner.