Common Property Insurance Valuations
Australian Insurance Valuations provides independent common property insurance valuation reports for owners corporations, body corporates, strata managers and shared property assets requiring replacement cost and reinstatement assessments.
Insurance valuations for shared property assets
Common property can include shared building areas, services, recreational spaces, external improvements and facilities used by multiple owners or occupants. These areas often require careful replacement cost assessment for insurance purposes.
Our common property insurance valuations assist owners corporations, body corporates and strata managers when reviewing building sums insured and reinstatement cost requirements.
Common property may include:
Foyers, stairwells, lifts, corridors, shared services, roofs, external walls, driveways, pools, gardens, fencing, car parks, recreational facilities and other shared improvements.
Common property areas we assess
Building Common Areas
Insurance valuation reporting for foyers, corridors, stairwells, lifts and shared access areas.
Shared Building Services
Assessment of common services including electrical, plumbing, fire systems and mechanical services.
Recreational Facilities
Replacement cost consideration for pools, gyms, gardens, outdoor areas and resident amenities.
Parking & Driveways
Insurance valuation support for shared parking areas, basement access, driveways and hardstand areas.
External Improvements
Assessment of fencing, retaining walls, landscaping, pathways and other shared site improvements.
Insurance Review Reports
Professional reports prepared to assist insurance review and owners corporation decision-making.
Shared property can carry significant replacement cost
Common property often affects multiple owners and requires appropriate insurance review.
Shared services, amenities and building infrastructure can influence reinstatement cost.
Independent reports assist strata managers, committees and owners corporations.
Common property valuation process
Review Scheme Details
We review the property type, shared areas and insurance valuation requirements.
Assess Common Areas
Shared improvements, services and facilities are considered where relevant.
Replacement Cost Review
Rebuild, reinstatement, demolition and professional cost factors are reviewed.
Report Delivery
A professional common property insurance valuation report is provided.
Common Property Insurance Valuation FAQs
What is common property?
Common property generally refers to shared areas, services and improvements used by multiple owners or occupants within a strata, community or shared property arrangement.
Why does common property need insurance valuation?
Shared improvements can have substantial replacement costs and should be reviewed for insurance purposes to support appropriate building sums insured.
Who usually requests this type of report?
Owners corporations, body corporates, strata managers, property managers and committees commonly request common property insurance valuation reports.
Need a common property insurance valuation?
Contact Australian Insurance Valuations to arrange an independent replacement cost assessment for common property, shared facilities and owners corporation assets.
Independent replacement cost reporting for shared structures, facilities and common property improvements.