Professionals Nowra If you own a unit, townhouse, duplex or free standing home governed by strata or community title – then keep reading!
As of November 2016, new legislation requires unit entitlement be determined on current market value. Up until now developers and/or their surveyors submitted their own self assessed unit entitlements when registering the strata plan. This must now be determined by a professionally qualified property valuer.
What is unit entitlement? – Unit entitlement establishes the owners proportion of levy contributions, share in community property, voting rights and other items within a Strata or Community Title scheme. They are also the basis by which the valuer general apportions local council rating and land tax values to each unit of the plan.
If you feel that the unit entitlements apportioned to your strata unit are incorrect you can have it formally reviewed by a qualified property valuer.
Professionals Clyde Poulton has a registered valuer who has experience in unit entitlement valuations and understands the requirements of the recent reforms.
If you would like to book a valuation please contact Karl Poulton on 0401 824 335.