#Rental property evaluator registration#
#Rental property evaluator code#

The Gross Rental Value (GRV) remains in force for the respective 3 to 6 year period, until the next GRV is calculated.įind details of the most recent date of valuation for metropolitan and regional areas. The assessment date, which is known as the date of valuation or DoV is conducted every 3 years for the metropolitan area and 3 to 6 years for regional areas, depending on the local government. This date is used by valuers to ensure a fair and equitable assessment is completed for all properties at a given point in time.

Any further queries on the GRV, please contact Landgate’s Customer Service team.Īll properties within a local government area are assessed at the same date. If you have any queries on the rate in the dollar or levies, please contact the respective local council or rating authority. You should find details of the GRV and rate in the dollar used to calculate your rates in the bill notices received from the respective rating authority. rubbish collection) to calculate the total of rates payable. The rate in the dollar is multiplied by the GRV, with the local council adding any levies (e.g. Department of Fire and Emergency Services (DFES) for the emergency services levy, which is included on your council ratesĮach rating authority sets their own rate in the dollar to be charged.Water Corporation WA) for water and sewerage rates Gross Rental Values (GRVs) are provided to rating authorities who use the GRV to work out rates, service charges and levies to be paid by property owners. Our customer commitments Our customer commitments.Our values and culture Our values and culture.2022 review of Landgate's enabling legislation.Commissioner and Registrar Requirements.Legislation & reform Legislation & reform.Community Titles Policy and Procedure Guides.Survey and Plan policy and procedure guides.Strata Titles policy and procedure guides.

#Rental property evaluator registration#

Land Titles Registration Policy and Procedure Guides.

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We service all Sydney suburbs and throughout NSW.

#Rental property evaluator code#

Our Sydney valuers are members of the Australian Property Institute ( API valuers) and are bound by a strict code of ethics.

We offer easy-to-read and interpret valuation and assessment formats tailored to the client’s individual needs. Our licensed property valuers provide completely independent real estate valuations and assessments for all situations and property types including residential, commercial, industrial, retail, accommodation, healthcare, and childcare. It is for this reason, it is always beneficial for a landlord or tenant to have an independent rental assessment conducted in the lead up to the termination date or option period to place them in an enlightened position prior to the crucial renewal period. The importance of obtaining an independent rental assessment Often items such very expensive fit-outs and other benefits may be hidden into inflated rents and leases for various reasons, which cause a purchaser to buy above market value, go to release the property and find the rental was inflated and suffer a double loss similar with tenants not knowing past leases have been inflated and walk into inflated leases based on the past at face value. The seemingly small 1% differential translates to an almost 17% inflated rental all things being equal.įurthermore leases often with fixed-rate rises per annum or CPI rate rises being out of line with a changing market can be massively skewed over a 3, 5 and without a doubt a 7 or 10 year lease terms. Yet, a similar property recently sold and recently leased 6% being an actual $60,000pa reflection.

In times gone by, a rate of say 7% may have been a stalwart/solid and constant with minor adjustments here and there, however with for example significant compression in such rates of 3% in cases, can create vastly inaccurate outcomes.įor example: A property sold for $1,000,000 and 7% may indicate a market rental of $70,000pa. In recent years these rates have been more volatile and have fluctuated greatly leading to vastly inaccurate rental assessments on this basis. This is mainly due long-term use and reliance by people on previously steady yields and cap rates on such properties estimating rents from sale prices or considered market value in favour of comparable properties where they are absent. Market rental values of commercial, industrial and retail properties are the most under or over/inaccurately assessed sector of the real estate market than any other area, which translates into leases and financial gain or loss for the landlord or the tenant. COMMERCIAL, INDUSTRIAL AND RETAL PROPERTIES