At West Coast Valuers, we complete Building Insurance valuations that comply with state legislation. As per the Strata Title Act 1985, a strata company have all assets of the scheme insured against damage. The coverage must include the buildings common property and any building improvements to its replacement value.
To comply with the Act, a registered valuer is required to ensure that the building, along with all of its permanent fixtures adequately covers all assets and reinstatement and replacement costs. The valuation must include replacement costs for any services or structures as well as any costs to employ contracts for potential works.
Our reports breakdown factors such as:
Demolition costsCouncil or other professional feesIncurring GST costsConstruction costsReplacement costs of services/structures
If you require a building valuation to comply with the Strata Title Act 1985, contact our specialised team on (08) 6245 2131 or fill out an online form.