VVE rebuilding value
Owners Association
FH Appraisals performs appraisals and we provide advice to private owners' associations, association managers and intermediaries.
Why is an appraisal rebuild value important for a VVE
The Owners' Association takes care of proper insurance of an apartment complex. This is required by law (Apartment Act of 1951). Whether it is a small CoE with 2 houses or an apartment building with hundred(s) of apartments.
There are several reasons to have the value of your apartment or complex determined, these may include:
- An appraisal required by the insurer;
- Setting the insurance premium;
- Preventing underinsurance;
- Preventing too much insured value (overinsurance) you pay too much premium;
- Excluding private liability of the director(s);
- Determining damages.
To ensure that the insurance policy provides the right coverage, the rebuilding value of the building is often reassessed every 6 years.
Benefits FH Appraisals
- Experienced (VRT) certified appraisers
- Broad knowledge of the industry
- Clear opinions
- Reliable and knowledgeable
- Independent and integrity
- Easily request quotes through our website