Valuer S  NZVRB 5
The Valuers Registration Board received a complaint from the complainant that Valuer S, acting for the landlord, assessed a rental for her premises of $88,150 per annum plus GST to apply for a rent review term commencing 1 July 2008. That rental was said to be out of line with the market. The existing rental at the time was $24,000 per annum plus GST and had apparently remained unchanged since 1 July 1999. The lease was summarised in Valuer S’ report, but a copy of the lease was not provided. The complaint was that, as a result of the high rental assessment by Valuer S, she was obliged to obtain her own valuation. This she did from Valuer 1, who assessed a rental of $47,474 per annum plus GST which, the complainant says, was in line with her expectations.