FAQs
Quantity surveying FAQs
Common questions about report types, process, tax depreciation, insurance valuation and replacement cost reporting.
Is an insurance valuation different from a market valuation?
Yes. A market valuation estimates sale value. An insurance valuation focuses on replacement or reinstatement cost for insurance-related decisions.
Can this help with underinsurance risk?
Yes. A professional valuation gives owners and managers a clearer basis for reviewing whether the current sum insured appears aligned with replacement cost exposure.
Is a replacement cost report the same as an insurance valuation?
They are closely related. A replacement cost report estimates the cost to replace or rebuild improvements, while an insurance valuation applies that cost information to insurance and sum insured review decisions.
Do you work with strata managers?
Yes. Strata managers and owners corporations are a core audience for insurance valuation and replacement cost reporting.
Is a depreciation schedule worth it for an older property?
Often, yes. Older properties may still have capital works or renovation-related deductions, depending on construction history and income-producing use.
Can my accountant use the report?
Yes. The schedule is prepared so your accountant can apply the relevant depreciation information when preparing your return.
Do I need a new schedule every year?
Usually no. A schedule is commonly prepared once and used across multiple years unless the property changes or new assets are added.