Reasons to Get a Rental Chattels Valuation

Rental Chattels Valuation

A rental chattel’s valuation is a crucial process for both landlords and tenants, providing a comprehensive assessment of the value of movable items or assets within a rental property. These assets, often referred to as chattels, encompass various items such as furniture, appliances, jewellery, electronics, and other movable possessions. Property expert Ryan Weir says chattel valuation may seem like a trivial matter, yet getting a rental chattels valuation offers numerous advantages for all parties involved. Ryan Weir delves deeper into reasons to get a rental chattels valuation.

Fair Rental Price: According to Ryan Weir, one of the primary reasons to conduct a rental chattel valuation is to establish a fair rental price for the property. By determining the value of the chattels included in the rental, landlords can accurately assess the overall worth of the property. This will allow them to set a reasonable rent that aligns with market rates.

Accurate Depreciation Calculation: Rental chattels have a finite lifespan and depreciate over time. A professional valuation will provide landlords with a depreciation schedule, enabling them to claim tax deductions for wear and tear on these assets.

Dispute Resolution: Having an independent and objective valuation can help resolve disputes between landlords and tenants concerning the condition and value of chattels during and after the lease period.

Property Insurance Coverage: Rental chattels valuation assists landlords in obtaining appropriate insurance coverage for the movable assets within the property. Adequate insurance coverage ensures protection against potential damages and theft.

Tenant Security: For tenants, knowing the value of the chattels they are renting helps ensure that they are not overcharged for the included assets, offering them security and peace of mind. Ryan Weir says the valuation report can also be used as a negotiation tool when discussing rental prices and responsibilities.

Renovation Decisions: For landlords looking to upgrade their rental properties, a valuation provides insights into which chattels may require replacement or refurbishment. Hence, guiding renovation decisions and budget allocation.

Property Investment: For potential property investors, having a detailed rental chattel valuation allows them to make informed decisions about whether the rental income justifies the investment.

Property Investment

Bank Financing: For landlords seeking bank financing for property purchases or renovations, a rental chattels valuation adds credibility and helps lenders understand the overall value of the investment.

Documenting Property Condition: A chattels valuation report documents the condition of assets at the start of the tenancy. This makes it easier to determine responsibility for damages at the end of the lease.

Avoiding Overcharging Tenants: Some landlords might inadvertently charge tenants for items that should be considered standard amenities, which a professional valuation can help avoid.

Tax Purposes: The valuation report assists landlords in accurately declaring rental income and claiming tax deductions for depreciation and asset maintenance expenses.

Financial Planning: A rental chattel’s valuation is a valuable aspect of financial planning for landlords, as it helps them understand the overall worth of their assets.

Market Insights: The valuation report can offer insights into market trends, rental demand, and tenant preferences, aiding landlords in making informed decisions about their rental properties.

Inventory Management: For property management companies, a rental chattel’s valuation ensures efficient inventory management and maintenance planning.

Personal Property Protection: Tenants can benefit from a rental chattel’s valuation by having a documented record of the property’s movable assets, protecting them from false claims of damage at the end of the lease.

Avoiding Under-Insurance: By having an accurate rental chattel valuation, landlords can avoid under-insuring their movable assets, which could lead to financial losses in case of unforeseen events.

Rental Property Marketing: For landlords advertising their rental properties, mentioning that a professional chattel valuation has been conducted can attract potential tenants seeking transparency and fair pricing.

Rental Property Marketing

Exit Strategy for Landlords: In case landlords decide to sell their rental properties, the valuation report can assist in negotiating the selling price with potential buyers.

Estimation of Replacement Costs: The valuation helps landlords estimate the costs of replacing or upgrading chattels over time.

Insurance Claim Support: In the event of a claim, having a rental chattels valuation report can support insurance claims for damaged or stolen assets.

Energy Efficiency: Some rental chattels, such as appliances, may have energy efficiency ratings that impact utility costs. The valuation report can highlight such details for tenants’ awareness.

Home Staging: For landlords furnishing rental properties for showings, a rental chattels valuation helps calculate the value of the staging items.

Tenant Appreciation: Providing tenants with a rental chattel’s valuation demonstrates a landlord’s commitment to transparency and tenant satisfaction.

Asset Liquidation: In some cases, landlords may choose to liquidate their rental chattels, and a valuation report helps in determining the worth of these assets.

Resolving Inventory Discrepancies: The valuation can help resolve discrepancies between the inventory listed in the lease agreement and the actual chattels present in the property.

Tax Deductions for Tenants: In some jurisdictions, tenants may be eligible for tax deductions related to rental expenses, and the valuation report can be used as supporting evidence. 


Valuations play an important role in real estate and all these reasons given by Ryan Weir are enough to prove that it is no longer an option. While at it, the chattel value chosen can either make or mar the whole process. Hence, landlords should conduct due diligence in order to pick the right valuer for the valuation

What do you think?

Written by Ryan Weir

Ryan Weir is a seasoned financial professional with over a decade of experience in relationship management. As the Managing Director of Property Scouts NZ, one of the country's leading specialized property investment firms


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