Valuers Registration Board

The Registrar of the Valuers Registration Board received a complaint dated 7 June 2008 from the complainant, being the subject property. This property is tenanted by a government department.
The complainant alleged the professional negligence of Mr Valuer X, in that Valuer X had been commissioned to provide a market rent but apart from verbal advice a market rent valuation report was never received. The lack of a report prevented any claim of the verbal advice (the market rent has increased by approximately $10,000 per annum plus GST) being supplied to the tenant such notice being null and void if not accompanied by a Certificate signed by a Registered Valuer. The rent review clause required the notification no later than 2 months subsequent to any review date, “time being strictly of the essence’. The complainant was also seeking compensation for the resultant loss of rent of $30,000 for the three-year review period