Unit blocks are commonly valuated for similar reasons to normal residential buildings, such as figuring out the actual value of this asset in hand, or for helping get approval for a bank loan. The biggest reason to do so, however, is to figure out the proper rent rate for a unit in the block. A fair rental rate prevents you from receiving less revenue than you should while also being attractive to potential tenants.
Romeo Property Valuers’ prioritises accuracy of the valuation most–we pride ourselves on it. Our team of certified property valuers can help you find out what the rental rates currently are in the market, and offer recommendations after providing our expert valuation.
Romeo Property Valuers is staffed with highly qualified Registered Property Valuers combining over 50 years of property valuation experience. We are experienced and have completed many deceased estate valuations in Sydney.
The Director, Vincent Romeo, sits on the Board the Australian Valuers Institute and acts as an advisor and mentor to many Registered property Valuers throughout NSW.
Romeo Property Valuers have acted for many Private, Corporate and Government clients in their tenure as one of the leading Valuation firms in NSW enabling Vincent Romeo an opportunity to offer his property valuation expertise on Channel 10’s popular lifestyle show “The Living Room”.
Other than being highly accredited as Registered Property Valuers throughout NSW we have an extensive range of knowledge and experience in the Property Analysing process and pride ourselves on delivering comprehensive property analysis and subsequently reliable and accurate property valuations. We are constantly observing and educating ourselves with the trends and changes in the market in order to make sure your property valuation is accurate, precise and reliable.
To make an informed property purchase or else in order to obtain solid returns on your home’s equity, you require accurate and realistic data. We strive to deliver market-leading strategic and innovative property advice using state-of-the-art valuation and information technology systems in order to enable you to make informed financial decisions.
Unit block valuations are typically conducted every two years, and the results are used to set rent prices and interest rates
A valuation may take up to a few days after the property valuer comes on-site. Rest assured that the time spent is being used to make all calculations necessary to arrive at the most accurate valuation possible.
The market plays the biggest role in these valuations. As there is plenty of competition for renting, a rate that is too high will turn people off from the block, while too low will cause losses to build up.