Tips from a Valuer in Rental Determinations
The following discussion provides the main areas of a rent review process:
As a Commercial Property Valuer of some twenty-five (25) years plus, more particularly, a Specialist Retail Valuer, the Commercial Property Determination process, depending of where the parties involved are in relation to experience, can be very daunting. The role and process may be considered as a snapshot as to the main points to consider:
As one of Melbourne’s leading property valuers, all I can say is, if I had a dollar for every time a consumer asks me this question, I would probably have retired already.
Can you provide me with a valuation – you know I don’t need a report, just an opinion of value, an appraisal, or estimate of value.
The Australian Property Institute (API) has recently reported that the marketplace in general substituted the word “valuation” with other alternative means of appraisal, sale price, estimate, assessment, selling range, opinion.