NSW Land Registry Services (NSW LRS) will introduce new lodgment requirements for Valuer’s Certificates for strata and community plans in 2020.
From 1 January 2020, a Valuers’s Certificate must provide additional identification information and the date on which the valuation was made.
These changes will assist parties to identify the qualified valuer who completed the Valuer’s Certificate for strata and community plans and follows consultation with industry practitioners.
NSW LRS has released a new Approved Form 18 for Strata Plans, Approved Form 9 Community Plan and Strata Plan Administration Sheet 3.07, available in the online Forms Library under Strata Scheme Forms and Community Scheme Forms.
New lodgment requirements
The new lodgment requirements for valuers for strata and community plans are:
1. Identification
From 1 January 2020, all Valuer’s Certificates will require the following additional identification information:
- The Valuer’s company name, or where there is no company, the Valuer’s address.
- Confirmation that the Valuer is a ‘qualified valuer’ as defined in the Strata Schemes Development Act 2015 or the Community Land Development Act 1989.
- The professional body that the Valuer is a member of, their class of membership and their membership number.
2. Valuation day - Strata Plan Administration Sheet 3.07
Valuers must include the date that the Valuer made the valuation and apportioned the unit entitlements (the ‘valuation day’) in accordance with Schedule 2 of the Strata Schemes Development Act 2015.
The Registrar General’s Guidelines will be updated to include commentary on these requirements during November 2019.
NSW LRS encourages all industry professionals and their clients to consider early adoption of the new Approved Forms and Administration Sheet. Early adoption will ensure a smooth transition from 1 January 2020 and avoid unnecessary delays in the registration of strata and community plans.
Customer enquiries
For further information about these changes, please email Plan-Info@nswlrs.com.au or Contact Us.