Darwin Unit Entitlement Valuation
Territory Valuers is the leading property valuation company in the Darwin and broader NT area. Our team of expert property Valuers have over 20 years of experience determining unit entitlement valuations in Darwin, in accordance with the Northern Territory Unit Titles Schemes Act. We pride ourselves on our high quality, accurate service and quick turnaround times.
Territory Valuers provide unit entitlement valuations for individuals, private and corporate developers, surveyors and strata corporations.
What is a Unit Entitlement?
Unit entitlements refer to the share of rights and responsibilities that are allocated to each unit or unit owner within a strata scheme. A block of units will have a set number of entitlements, which are proportionately divided amongst the individual units. The details of the unit entitlements assigned to each unit is presented as a Unit Entitlement Certificate prepared by a qualified Valuer, within a strata scheme statement.
Why do you need to calculate Unit Entitlements?
Unit entitlements are required in order to accurately determine the contribution amount of each unit on title for costs such as maintenance, levies and building replacement cost insurance. They also assist with dictating voting rights among unit owners.
Unit entitlements need to be measured for a number of different reasons:
- During the create of strata scheme for new development
- Adjustment of the entitlement statement within an existing strata scheme in the case of further developments to the building
- Determining accurate unit entitlements in case of disputes over current division
Unit Entitlement Valuation Darwin
We provide Unit Entitlement Certificates prepared by our licensed property Valuers in line with the Unit Titles Schemes Act. There are specific requirements for measuring unit entitlements for the purpose of strata schemes, which our Valuers are experienced in meeting.
In some circumstances, a valuation of current market value of each the unit is needed in order to determine unit entitlements. This will require a property valuation report from an independent Valuer, which is also a service we are able to provide.
If you require unit entitlement services, or would like to know more about what our expert team at Territory Valuers can offer you, do not hesitate to contact us today on (08) 7918 0858.