Unit Entitlement Valuation in Sydney
To determine unit entitlements in Sydney, the owner or owners of a Strata Scheme will usually need a valuation completed for each lot. Once the correct unit entitlement is established, it can be used to support levy contributions and voting power allocations. For broader valuation services, see Property Valuation Sydney and Property Valuation NSW. If insurance coverage is also required, a Building Insurance Valuation may be needed for replacement cost purposes.
Our team at Valuations NSW can provide unit entitlement valuations for private, corporate and surveyors that are involved in the subdivision of land or property for the creation of a Strata Plan.
This process includes:
- Strata - Form 3 Unit Entitlement for built form: Alternatively known as a Building Strata Scheme, these forms are for properties, such as a townhouse or an apartment, that are part of a strata. This strata form includes both below and above ground spaces that are subdivided between 2 or more owners.
- Survey Strata - Form 3 Unit Entitlement for land-only: Just as in the name, these forms are for a lot of land that is included in a strata plan. This may only include land but you will still share ownership of such things as the power scheme, water scheme, deep sewerage and any outdoor communal spaces.
You must submit these forms and receive approval from your local council before you can begin any developments or issue any unit entitlements.
When conducting a unit valuation, a valuer will thoroughly investigate both internal and external factors, to accurately calculate the unit’s true value. This ensures that the owner of the unit does not pay more in the contribution of the strata than they need to. With correct calculations, provided by a professional valuer, you can ensure fair distribution of levy payments and unit entitlements.
How to Change a Strata Unit Entitlement
A strata unit entitlement determines the amount each owner pays in fees to contribute to the strata. These contributions pay for insurance, maintenance, and council rates. The unit entitlement also dictates the amount of voting power the owner has within the Strata Scheme.
If you’d like to speak directly with a local Certified Practising Valuer about your strata situation, see our Property Valuers NSW page.
With unit entitlements of Strata plans being so crucial, they must be accurate, true, and current. Any owner of a unit is well within their right to have a new unit entitlement valuation conducted to change their entitlement. The reasons for needing to change your unit entitlement vary from person to person. A few examples may be your strata unit entitlement is the same as another’s despite a great difference in size, or maybe the land upon which the strata sits has been rezoned. To change your strata unit entitlement, you must lodge Approved Form 11 along with a “schedule of a unit entitlement for a strata plan of subdivision which involves common property” See clause 4, Schedule 2 Strata Schemes Development ACT 2015.
you should consult with a strata lawyer as well as an experienced and certified property valuer (you can contact us to discuss your requirements).
Unit Entitlements Sydney
We have two guiding principles that we apply to all we do: Honesty and Integrity. By staying true to our principles we have achieved the status of being the leading valuations firm in Sydney and across all of NSW.
We can help our clients ensure their unit entitlements are fair and accurate. All valuation reports provided by our team at Valuations NSW are all legally certified documents, that are incredibly detailed and delivered to our clients quickly.
Every member of our team is a Certified Practising Valuer (CPV) accredited by the Australian Property Institute (API) and many also hold AVI and RICS qualifications. With over 20 years of industry experience, our highly qualified valuers are true experts in their respective local areas—an essential asset when it comes to unit entitlement valuations. Their in-depth local knowledge ensures that every report fully complies with local laws and requirements, guaranteeing the highest quality and precision in every valuation.
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Unit Entitlement Valuation FAQs
What is a unit entitlement?
Unit entitlement is the share allocated to each lot in a strata scheme. It is commonly used to calculate levy contributions and can also affect voting power within the owners corporation.
When do you need a unit entitlement valuation?
Unit entitlement valuations are commonly required for new strata plans, subdivisions, reallocation requests, and disputes where owners believe entitlements are unfair or inaccurate.
How is unit entitlement calculated?
A valuer typically assesses the relative market value of each lot compared to others in the scheme, considering factors such as size, layout, aspect, condition, and other value drivers.
Can unit entitlement be changed?
Yes. In NSW, changes typically require formal documentation and approval processes. A supporting valuation is often needed to demonstrate why the existing entitlements are not fair or accurate.
Is unit entitlement the same as building insurance valuation?
No. Unit entitlement relates to allocating contributions and voting power within a strata scheme, while a building insurance valuation focuses on replacement cost for insurance coverage.
If you would like to employ the services of our unit entitlement valuations team or if you have any questions, feel free to reach out to our friendly staff. You can call us on (02) 8599 9863 or fill out our contact form and we’ll answer you as soon as we can.