Our team of in-house Quantity Surveyors at Asset Reports are experts in calculating Building Replacement Costs for insurance purposes.
They specialise in calculating construction costs; we don’t look at the land value or market values, we only focus on the actual costs involved in constructing or replacing that building.
It’s a distinct advantage to have qualified experts preparing these reports to avoid large variations in cost estimates. The risks of being over-insured or under-insured are well known in the industry – and that is where Asset Reports can help; by reducing risks for Strata Companies, Commercial Property Owners and Insurance Companies. This is because we apply industry best practice to each valuation.
We are a very hands-on company and always attend the property to thoroughly assess the quality of the building, in addition to taking measurements of your building plans using the latest CostX software. We have a highly developed cost library which is constantly updated with real market information to ensure we provide you with an accurate and reliable valuation of your asset.
What is a Quantity Surveyor?
Quantity Surveyors must have completed a degree in Construction Management and Economics and have undertaken work experience which qualifies them for membership of the Australian Institute of Quantity Surveyors. They work on projects ranging from office blocks, schools, hospitals, factories to bridges, railways, oil and mining development, shipbuilding and large process engineering works such as oil refineries. Anywhere that major construction work is carried out.
Quantity surveyors get their name from the Bill of Quantities, a document which itemises the quantities of materials and labour in a construction project. This is measured from design drawings, to be used by the contractors for tendering and for progress payments, for variations and changes and ultimately for statistics, taxation and valuation. Quantity surveyors must have orderly and analytical minds and be prepared to work to very rigid time schedules. As decisions involving large sums of money are often made using information produced by them they must be accurate in all aspects of their work. Quantity surveyors work in the private sector with consulting firms, in the public sector mainly with the State Government Departments/Authorities and the Australian Construction Service, and increasingly with building contractors, financiers, property developers, project managers and universities.
Are Quantity Surveyors more expensive than Valuers?
Quantity Surveyors are highly skilled and educated and have access to sophisticated software to analyse building plans, however that doesn’t mean our services are more expensive. As each Strata and Commercial building is unique, we can’t provide one simple price list – but we do provide free quotes which often involve a site visit for larger properties where we can assess the building in more detail.