How much for a rent valuation for commercial property?
Discussion
It is going to be very dependent on the location and where the valuer is based.
How much of their time do you think it will take? They have to go to the property to inspect and measure it, calculate floor areas, find comparables then write the report.
Is that 3 hours work? Is £200 per hour reasonable? If you think it’s 2 hours work then is £300 an hour reasonable. If you think it’s 6 hours work is £100 an hour reasonable?
How much of their time do you think it will take? They have to go to the property to inspect and measure it, calculate floor areas, find comparables then write the report.
Is that 3 hours work? Is £200 per hour reasonable? If you think it’s 2 hours work then is £300 an hour reasonable. If you think it’s 6 hours work is £100 an hour reasonable?
Chrisgr31 said:
It is going to be very dependent on the location and where the valuer is based.
How much of their time do you think it will take? They have to go to the property to inspect and measure it, calculate floor areas, find comparables then write the report.
Is that 3 hours work? Is £200 per hour reasonable? If you think it’s 2 hours work then is £300 an hour reasonable. If you think it’s 6 hours work is £100 an hour reasonable?
I've no clue about the process, but if that is what is involved then price is fine. Thanks.How much of their time do you think it will take? They have to go to the property to inspect and measure it, calculate floor areas, find comparables then write the report.
Is that 3 hours work? Is £200 per hour reasonable? If you think it’s 2 hours work then is £300 an hour reasonable. If you think it’s 6 hours work is £100 an hour reasonable?
£600 is cheap. If it's just a tick box exercise then fine but if you actually want a decent inspection and the person to do proper research you can expect to pay more.
The cheapest I know of around Exeter are £950 + VAT territory. We don't really produce reports for less than £1,500 + VAT.
You get what you pay for. Some cheap valuations aren't worth the paper they are written on.
The cheapest I know of around Exeter are £950 + VAT territory. We don't really produce reports for less than £1,500 + VAT.
You get what you pay for. Some cheap valuations aren't worth the paper they are written on.
Ok, thanks. I've just checked and it's actually 700+ vat for a market rent valuation.
They also wrote the following...
'If you would like the valuer to carry out a rent review, He will need to obtain lease info, inspect and negotiate terms.
The fee for this would be a base rate of £600+VAT payable up front, plus one-off payment being 50% of the annual rental increase on completion.'
I don't need a rent review, but if I did, is this normal fee structure. Again, I've never had to do this before.
They also wrote the following...
'If you would like the valuer to carry out a rent review, He will need to obtain lease info, inspect and negotiate terms.
The fee for this would be a base rate of £600+VAT payable up front, plus one-off payment being 50% of the annual rental increase on completion.'
I don't need a rent review, but if I did, is this normal fee structure. Again, I've never had to do this before.
Yes but the percentage will vary based on the size of the rent. Id assume they've taken this in to account when quoting.
If you want decent advice look around and see who has the most boards up. They'll know what is going on in the market. Avoid anyone off patch who is cheaper, they will get the job then tap up the local agent for the market intel.
If you want decent advice look around and see who has the most boards up. They'll know what is going on in the market. Avoid anyone off patch who is cheaper, they will get the job then tap up the local agent for the market intel.
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