At Valuations QLD, we complete Building Insurance valuations that comply with state legislation. As per the Building Unit & Group Title Act 1980, the body corporate must insure the building under a damage policy to account for any reinstatement or replacement costs.
To comply with the Act, the body corporate must seek out a valuation every five years. A registered valuer is required to ensure that the building, along with all of its permanent fixtures is insured under the correct amount. 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 Building Unit & Group Title Act 1980, contact our specialised team on (07) 3067 2393 or fill out an online form.
Please contact us for a guaranteed competitive quote.