Property Valuation Frequently Asked Questions

The cost of a property valuation varies depending on the type of property, the extent of the improvements on the site, it’s location and other factors. At The Property Partnership East Rand we provide free no obligation quotations in which we will outline our fee for undertaking the valuation, the proposed time frame and what is expected by the client.

Our valuation fee allows for a full on-site inspection of the property, market research including details of comparable sales, areas of the buildings on the site, description of improvements, municipal information and pictures where applicable. This information is communicated to the client in a fully motivated valuation report which meets all local and international requirements.

The new Municipal Property Rates Act of 2004 requires that all properties within a municipality are valued at the ‘Market Value’ of the site. This market valuation is used as a base in determining the assessment rates payable by a property. The Valuation Roll is required to be updated every 4 to 5 years, with supplementary valuations being undertaken periodically on qualifying properties during this period. The market value of the site appears in the Municipality’s valuation roll, and is also delivered to the property owner. On receipt of the ‘Section 49’ notice of Market Value, the property owner is afforded the opportunity to object to the Municipal Valuation of the site. This objection needs to be fully motivated and completed on the prescribed form.

Our firm has been successful in all objections lodged. Contact us to assist with the objection process.

A property valuer is a qualified professional that will provide you with an independent report on the value of a property. The valuer is held accountable for his report and does not have any financial interest in the property. A valuation report will provide the owner of a property with the true market value of the property based on motivated market research. Websites and individual that offer ‘free valuations’ will normally only provide the client with a value range based on general sales in a particular area, and the property will not be physically inspected. These sales will not be directly compared with the subject property, nor will they be scrutinised.

In today’s economy and with corporate governance, there is a constant need for companies, body corporate’s and private individuals to have their properties professionally valued. A property valuation will assist a company in determining the underlying value of their assets. The Property Partnership East Rand is also able to assist clients with International Financial Reporting Standards (IFRS) regulations and capital allowance apportionment.

With ever changing building costs, it is also advisable for companies and body corporate’s to ensure that their replacement cost values are correctly stated to avoid loss due to averaging. We recommend that the replacement cost amounts are updated every three years.

Our valuers are all registered ‘Professional Valuers’ without restrictions; thus we can assist with all types of property valuations throughout South Africa. The most common performed valuations are:

  1. Commercial/ Office Property Valuations
  2. Industrial Property Valuations
  3. Vacant Land Valuations
  4. Development Land Valuations – including Affordable Housing.
  5. Residential Property Valuations – including Sectional Title Units.
  6. Retail Valuation

Our clients include various JSE listed manufacturing and investment organisations, financial institutions, locally represented multi-nationals, private equity firms, legal practices, insurance companies and private individuals.

The Property Partnership East Rand cc subscribes to the Broad Based Black Economic Empowerment Codes of Good Practice. In terms of the Final BEE Codes promulgated on 11 October 2013, as applicable from 11 October 2014, our firm is classified as an ‘Exempted Micro Enterprise‘ (EME) having an annual turnover of less than R 10 million.
In terms of the Codes, the company is accordingly a Level 4 (Four) contributor, and has a 100% BBBEE procurement recognition.
Our firm also assists various charity organisations with their valuation requirements; which is done pro-bono or at substantially reduced rates.