Darwin Rent Valuation Service
It is important that a Rental Review property valuation is performed in all properties subject to a tenant and landlord relationship and especially when the property in question is commercial. Most lease agreements of these types will include the procedure for these rental reviews and set the date for the rent valuation, most often a year from the commencement of the lease. The purpose of the rent valuation Darwin is to ensure that a tenant is paying the correct market rate in rent.
Rent is likely to be amongst a tenant’s biggest expenses and a landlord’s biggest sources of income. This is why it is important to have an independent valuation of a subject property’s rent potential performed. It ensures that a tenant is not overpaying for the property they are renting or that a landlord is under charging their tenant rent. This form of valuation is not solely for commercial properties but can be performed on residential and industrial properties as long as a landlord and tenant are involved. Having said that, rental review valuations are most commonly done for commercial property valuation purposes.
The process of determining the proper value of a subject property’s rent requires a great deal of research. Our expert valuer must collect information on the property that includes:
- Condition of the subject property
- Rent values of comparable properties
- The current lease agreement
- Other areas of concern to the tenant and/or landlord
From this information they will produce a valuation report that not only includes an accurate value for the subject property’s rent but also shows how this value was calculated to remove any doubt as to its validity.
Rent Valuation Service Darwin
The team of experts at Darwin Property Valuers Metro are committed to providing our clients with the best property valuations possible.
Rental reviews might be a common part of most commercial leases, but they can also help end or prevent any disagreements between the landlord and tenant. The valuers at Darwin Property Valuers Metro always act independent agents. They only look at the objective data when determining the market value of a property’s rent. They have no bias or ulterior motive when valuing a property but rather work only towards calculating the true value. This means that a valuation report produced by us can be viewed by both the tenant and the landlord as unbiased and objective. One of the parties might not like the outcome but neither will be able to refute its validity.
There are a large number of factors that can influence the market value of a property’s rent. From the local property market to the condition of the property itself a valuer must be able to sift through scores of relevant data for every rent review valuation they perform. Only a valuer that has the right training and the right experience can produce a valuation of this type to the high standard necessary.
Every one of our expert valuers is a Certified Practising Valuer (CPV), accredited by the Australian Property Institute (API) — Australia’s leading membership organisation for valuation professionals — and also holds AVI or RICS qualifications. To earn this prestigious certification, our valuers must complete a tertiary degree in a related field and successfully complete a two-year traineeship with an industry expert.
Our valuers also have more than 20 years of experience in the field each. This experience has afforded them a high level of expertise in valuations. They are able to match their in depth technical knowledge with scores of past valuations to be able to produce property valuations that are extensively detailed and accurate and with a short turnaround time that doesn’t sacrifice on quality.
If you would like a free quote on a Rental Review valuation or if you have any questions about the process, please do not hesitate to reach out to us today by calling us on (08) 8967 1683 or by filling out the Contact Us form found below.