Blog Information

• Posted By : StrataVal Property Valuers
• Posted On : Jul 09, 2023
• Views : 80
• Likes : 1
• Category : General
• Description : A Body Corporate Valuers is responsible for the valuation of property for the purposes of Body Corporate levies and insurance.

Overview

• The role of a Body Corporate Valuers is to provide an independent and objective opinion on the value of property within a Body Corporate.
  
  
  A Body Corporate Valuers is required to have a in-depth knowledge of the Body Corporate Act and the relevant legislation.
  
  A Body Corporate Valuer must also be registered with the Office of Fair Trading. A Body Corporate Valuer is required to undertake a valuation of property within a Body Corporate Valuers on a yearly basis.
  
  The valuation must be completed within 6 months of the Body Corporate financial year end. A Body Corporate Valuers is required to provide a report to the Body Corporate outlining the value of the property and any changes in value since the last valuation.
  
  The report must be provided to the Body Corporate Valuers within 2 months of the completion of the valuation.