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Melbourne Rent Valuation Service

Valuations VIC is the independent valuation company to call if you need a rent valuation in Melbourne. We can assist with rental property reviews of any property type including commercial and residential properties. For each property type, we provide a local specialist so that you can be sure you receive the most accurate and reliable report.

A rent valuation is normally completed at the end of a lease but there are circumstances where you might need to review your rent in the middle of a lease contract. This may be when there have been changes to the property such as damage or a renovation that has altered the value of the property. Whether you are looking for a residential or commercial rent valuation there are normally two common valuation methods a valuer will use. These are:

  • Cost Approach A rental valuation using this method means a valuer will examine the property and analyse everything that influences its property value. This can be its size, location, condition, and features. This may be done completely by desktop or with an inspection of the property. This forms the basis of the rental value of the property.
  • Comparison Approach Properties that are similar to yours in every way and are in the same local area are compared against your property. The sales prices of these properties are used by the valuer and included in the rental valuation report. The sales of these must be from within the last 6 months with a preference for the most recent sales.

When it comes to a commercial property valuation, a valuer uses the methods above and may use the capitalisation rate and/or a gross rent multiplier in their calculations, which results in a market rent valuation report that is more geared towards investors.

Market Rental Valuation

A rent valuation is important for both landlords and tenants. It ensures that the rent is fair and true to the market value of the property. When looking for a valuer to conduct a rental valuation of your Melbourne property there are a few things you need to look out for so that you can secure the best outcome. A good property valuer for a rent valuation must:

  • Be local to the area – this can save you on the initial cost of the rent valuation and guarantees a more accurate report as the valuer will be familiar with all local elements that may impact your property value.
  • Specialise in the type of property you need to be valued – A valuer that has only had experience in valuing residential properties may not be able to provide a suitable rental valuation of a commercial property the same applies to industrial properties.
  • Have plenty of experience - An experienced property valuer will not overlook any detail. They will also have more expertise that only years of experience can provide.
  • Be a Certified Practising Valuer (CPV) – This certification is from the Australian Property Institute (API) and an eligible valuer will have to have met their high standards of professionalism, education, and training to have received this qualification.

The valuers of Valuations VIC have all these qualities and more. Every valuer we have on our team has over 20 years of experience, which makes them some of the most reliable and efficient valuers in Melbourne and greater Victoria. We are also registered members of the Royal Institution of Chartered Surveyors (RICS). This means we not only comply with Australian professional standards for valuers but international standards too.

If you would like us to assist you with your rent valuation in Melbourne, feel free to contact us today. Our staff are always prepared to answer any questions and to help you connect with a local property valuer. You can reach us by calling (03) 9021 2009 or by filling out our convenient online form.