Just Property Valuations (JPV) refers to the market value as defined by the International Valuation Standards Committee (IVSC), and endorsed by the Australian Property Institute, as follows:

“Market Value is the estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion”.

JPV specialise in all types of residential, commercial and industrial valuations.

JPV completes insurance valuation reports in line with Strata Schemes Management Act 2015. JPV will ensure that the assessment amount will include reinstatement value and allowance for removal of debris, cost escalation and alternative accommodation in case the strata building is uninhabitable.

Insurance valuations require regular review at a minimum of every five (5) years. This is due to changes in construction and building costs. At JPV, we offer on-going advice and review of all our insurance valuations, on request and on specific anniversaries, ensuring that the strata complex valued has always got the appropriate insurance cover.

We, therefore, advise in respect of Section 81 and 82 of the Strata Schemes Management Act 1996, that you require under the definition of a Damage Policy, full reinstatement or replacement of whole or part of your improvements, and where an Owners’ Corporation chooses to limit its liability under the policy, then the method of calculating the sum is prescribed under Part 3, Clause 12 of the Strata Scheme Management Regulation 1997.

A retrospective valuation will be undertaken by JPV to value a property at a historical date in time. Retrospective valuations are often used when undertaking Capital Gains Tax Valuations. Generally, these valuations are undertaken throughout the time the property was an investment and, therefore, it may be applicable to a capital gains tax.

A retrospective valuation may also be necessary while settling a family dispute or partnership settlement. JPV will be able to show backdated expert sales evidence to ensure accuracy within this report.

The property market is forever changing, so when you make the decision to either buy or sell a property, your decision should be backed by accurate and appropriate advice.

JPV completes pre-sale and pre-purchase valuations to ensure that our clients are well educated on all current market condition and recent trends, and that they inevitably do not overpay for a property, or under sell their family home or asset.

JPV undertakes family and partnership settlement valuations, which are used for either the Family Law Court of Australia or mediation/conciliation purposes.

Being called upon as an expert valuer to provide an impartial and unbiased valuation is taken with the upmost care and due diligence by JPV.

During this, often stressful and overwhelming, time, JPV ensures that our attention to detail and accuracy within these reports are second to none.

JPV has experience in this specialised area of valuation which often takes into account the various forms of compensation.

The Valuer General defines an easement as the following:

An easement is an acquired legal right enjoyed by the owner of land over the land of another. Land valuations do not take easements into account, as the valuations are required to be made on the hypothetical basis that the land is free of impediments to the title. However, the physical effects of an easement, for example, transmission lines, access roads and pipes laid for drainage, will be reflected in the land value.

JPV uses expert valuers that are proficient in compiling SMSF valuation reports.

With the Australian Tax Office (ATO) wanting a valuation completed initially on the day of purchase and/or transfer into your SMSF, they subsequently require an updated valuation completed every three (3) years.

JPV will ensure we keep in contact with our SMSF clients and offer a reduced fee for the subsequent second valuation and on-going, thereafter, every three (3) years.

A stamp duty valuation will be completed by JPV when ownership of property is transferred from one person to another, when the transaction has been made at a level not considered the fair market. Ownership transfer may include a family transaction or partial transaction, when ownership is held in ‘tenancy in common’. JVP works to ensure their high-quality reports are compliant with the Office of State Revenue when determining any stamp duty implications.

JPV uses expert valuers to undertake property valuations, in order to establish whether a capital gains tax is applicable to the property being valued.

The Australian Tax Office (ATO) sets out specific principals within the valuation report which JPV complies with, ensuring JPV reports are of high quality. JPV focuses on an easy and stress-free process when completing Capital Gains Valuation reports.

JPV has experience in Unit Entitlement Valuations for new strata buildings or older buildings that are converted to a strata title. At JPV, we can also assist in re-determination of unit entitlements when the existing unit entitlements are now deemed unreasonable.

JPV understands that unit entitlement valuations are an extremely important and complex task. It determines the proportion of ownership which a lot holder carries within a development and, also, the break up defines obligations under the strata or neighbourhood title scheme and stipulates legal and financial rights of all lot holders. Property owners can be heavily impacted, financially, if unit entitlements are not correctly calculated.

At JPV, we comply with recent amendments to the NSW Strata Titles Development Act and Strata Titles Management Act.

Prior to 30th November 2016, developers were permitted to ‘self-assess’ unit entitlements. Recent amendments to the legislation now require the task be completed by a registered valuer.

At JPV, we can assist both, landlords and tenants, with rental determinations, by offering expert advice on current market rental trends.

JPV will help landlords and tenants negotiate market rent prior to entering into a lease, or when a lease reverts back to market rent, and both parties start to negotiate.

We provide expert rental advice on all types of property on behalf of either the tenant or landlord, including; Medical centres, Commercial properties, Industrial properties, Retail shops, Offices.