The rules governing unit entitlements and how they are calculated are defined by the Strata Titles Act. This Act defines that the entitlements in a new strata must be calculated by a registered valuer. The way this is calculated is quite complex and, as such, you need to ensure an Australian Property Institute (API) qualified property valuer with ample experience is chosen to complete this work.
Unit Entitlements can also be re-visited in an existing strata. This is completed if you feel the original entitlements are unfair or out of line, or if boundaries and areas have been realigned and they now need to be calculated on the new dimensions. A property valuer will inspect each property in the strata and provide a certified and independent property valuation of each unit, which will then be used to calculate the unit entitlements for the entire development.
We play a big role in:
• Calculating unit entitlements for strata owners in all residential and commercial properties
• Helping owners understand the share in ownership and responsibility in areas such as common property, utilities, parking, elevators, and other such additions
• Advising the strata owners on day to day functioning of the Body Corporate
• The unit entitlement quantification is a complex calculation and there are several factors involved being the size of the lot, the location, as well as other defining features
• Advising on the annual levies and taxes to be paid by each lot owner based on the correct division of unit entitlement
We have a team of experienced property valuers based in Melbourne and support staff to help in offering the best service at affordable rates, while not compromising on integrity and honesty. To get in contact with us for a free quote or for any general enquiry, contact us today on (03) 9021 2007 or fill out an online enquiry form. We won’t be beaten on price or service!