Adelaide Property Valuers Metro is one of the leading valuation companies within Adelaide and the greater South Australia area. Our team of property valuers all have over 20 years of experience each within the local property market. As well as this, we require our valuers to be certified and registered with the Australian Property Institute (API).
We have senior property valuers who specialise in providing unit entitlements and can meet all the relevant requirements.
What are unit entitlements?
Unit entitlements determine the share of responsibilities and rights allocated to each unit within a strata scheme. There is a set number of entitlements proportionately divided between each individual unit, usually determined by size or value.
A certified property valuer is required to provide the unit entitlement sheet, which confirm the divisions of unit entitlements. This document is needed when setting up a strata scheme, or to revaluate the current unit entitlements. This is prepared in accordance with the Strata Titles Act 1988.
What are unit entitlements used for?
Once the division of unit entitlements within a strata block is determined, these are used to calculate the contribution amount of each unit towards any fees, insurance or maintenance cost. As well as dividing strata fees, unit entitlements also split the voting rights amongst unit owners, to ensure fair rights in accordance with the fees paid.
When are unit entitlements calculated?
There are various circumstances when a unit entitlement sheet will be required from an independent property valuer, including:
- During the creation of a strata scheme, such as for a new development or recently divided building
- In cases when the existing strata scheme needs an adjusted entitlement sheet due to developments or changes to the building
- In order to determine fair and accurate unit entitlements when a dispute occurs over a current division
Our property valuers are licensed and qualified to provide unit entitlement valuations which are accepted by the relevant government bodies. Additionally, they are able to provide accurate property valuations in the cases in which the current market value of each unit is required prior to calculating the unit entitlements.
If you have any further questions about our unit entitlement services or would like to discuss any other valuation need, please reach out to us on (08) 7009 4446.