WHAT IS A REPLACEMENT COST VALUATION?
The purpose of this valuation is to establish a reinstatement value based on an estimate of the actual new replacement cost of the subject property, for the purpose of insurance cover. Dream Project Solutions (Pty) Ltd specialises in both asset registers and building insurance valuations.
HOW IS IT GOING TO BENEFIT YOU?
Having an accurate replacement cost valuation is crucial as your property is neither under- nor over-insured.
If your property is under-insured, in the event of a claim you may be faced with an undesirable gap in what the insurer pays out and what you actually need to reinstate your property. On the other hand, if your property is over-insured you will be paying higher premiums than necessary.
WHY ARE WE QUALIFIED AND BEST PLACED TO PROVIDE THIS SERVICE?
- We are a registered professional Quantity Surveying practice that complies with the South African Council for the Quantity Surveying Profession’s requirements, as set out in Section 4 of the Code of Professional Conduct and as published in the Government Gazette.
- We are a member of a professional body that is regulated by South African legislation.
- Our director holds a Quantity Surveying degree and is a professionally registered Quantity Surveyor (PrQS) with the South African Council for the Quantity Surveying Profession.
- We have expert knowledge on residential, commercial, retail and industrial buildings. Professional Quantity Surveyors are actively involved from the feasibility stage of a development up until the construction stage and close-out.
- Our professional registration in Quantity Surveying along with our expert knowledge and Professional Indemnity cover enables us to provide accurate replacement cost valuations while removing risk to all parties that are involved in the process (i.e.: the client, managing agent, portfolio manager, insurance broker, etc.).
WHY USE A QUANTITY SURVEYOR AND NOT A PROPERTY VALUATOR?
- Our replacement cost valuations aim to strike the balance between providing enough cover, without over-valuing and thereby ensuring that you're not paying more or less than you should be.
- As professional Quantity Surveyors we have access to historic cost data as well as live data which enables us to ratify costs against actual building projects that we are involved in. This also gives us an advantage when dealing with complex sites, where generic cost indices are simply not up to the job. Property valuators are unable to provide this detail in their costing.
- Our allowances in terms of building costs, preliminaries, escalation, sundry development costs and professional fees are in line with the current market trends.
- Our escalation calculations are based on actual data from Statistics South Africa. This ensures that the building is not undervalued going forward.
- We have a sound understanding of the construction process and building methodology having worked closely with key personnel on building projects, from clients to architects/engineers through to contractors. We formulate development budgets prior to the start of the project for the client to obtain capex; and using cost management techniques ensure that the project is always kept within the approved development budget, thus making us best suited to compile a replacement cost valuation.
- Our replacement cost valuations are delivered in a simple, user-friendly format, which provides the user with key information but also provides the user with detailed calculations for peace of mind.
WHO NEEDS THIS SERVICE?
- Property Managers
- Body Corporates
- Portfolio Managers
- Managing Agents
- Facility Management companies
- Insurance companies
- Investment companies
Our cost structure is formulated using core professional Quantity Surveying principles and the latest technology in order to provide the client with maximum value.
Please complete the inquiry from below in order for us to provide you with a quotation
We are excited to present the above-mentioned proposal. We strongly believe that by working together we can reduce your costs in the short term but more importantly provide you with professional service and peace of mind going forward.
We are committed to finding solutions that make a measurable difference to you by adding real value through our expert knowledge and professional registration.
Should you have any queries please feel free to contact us in this regard.
… Your DREAM is our PROJECT SOLUTIONS…