Strata properties divide their duty payable between the owners based on the Unit Entitlement for the total property. When dividing into all equal entitlements, this presents a simple division of duty, however, when different lots have differing qualities, size, positions, etc., as well as dividing up common property, this is when determining the correct and fair Unit Entitlement can become difficult.
Sydney Property Valuers has a team of experts in the Unit Entitlement sector that have the capacity to handle any unit entitlement job with ease, from small residential developments to large high-rise commercial and industrial stratas.
It is common for Unit Entitlements to be restructured, particularly with developments build prior to 1970. This is due to the values of each unit changing over time. We have completed numerous property valuation reports in Sydney and throughout the greater metropolitan area for Body Corporates that are looking to restructure their Unit Entitlements.
These property valuation reports can assist in many areas such as:
- Setting the correct Unit Entitlement and registering it with the strata in a new development;
- Knowing the correct property tax to be paid on the units;
- Knowing the correct division of strata levies per owner and many more; and
- Challenging existing unit entitlement divisions if you feel your strata is incorrectly divided and you are paying more than your fair share.
We also provide property valuation advice for strata developments when objecting to a land taxation notice.
To get a quote or find out more, contact us today on (02) 8599 9840 or fill out an online enquiry form.