Company Background
Eagilwe Property Consulting and Asset is a Property Valuation, GIS Asset System Engineering and Integrated Infrastructure Management firm, which is 100% black owned and managed. Eagilwe Property Consulting and Asset is a Level 1 B-BBEE Contributor with 9 years of experience.
Our Vision
To advance service delivery through community participation and improving unity and cohesion
Our Mission
To serve our clients by providing the highest quality and professional service that address their business challenges. We provide collaborative culture that enables our clients to thrive professionally and personally. We deliver superior service while contributing to communities in which we leave and work.
Our Company Structure
KHOMOTJO MPHAFUDI
Assistant Municipal Valuer
WALTER LIFERO
Assistant Municipal Valuer
MZOLI MBANGATHA
Assistant Municipal Valuer
Our Valuation Methodology
1. Residential Properties and Village Settlements
Market Value shall be the estimated best price at which the sale of the interest in the property might reasonably be expected to have been completed unconditionally for cash consideration at the date of valuation on a willing seller basis.
Analysis of direct comparable based on recorded sales evidence as registered at the Deeds Registry will be done on a unit price basis for both the land and improvements. This is the Unit Value Method of Analysis and Valuation. The established rates for categorized sales will be applied to the general mass valuation of similar class and quality of residential properties and adjusted to establish the Tone of the Roll and for consistence.
Note is taken of the fact due to historical causes, there exists two economies and as such, a variety of residential property sub markets have evolved some of which no formal information exists and market information is non existent. The properties may not be registered at the deeds office and sales do not go through the formal conveyance process.
2. Commercial Properties (Urban rural including and Tribal Authority Areas (Income Approach)
The above method in 3 2 1 shall apply on rental evidence to then be capitalized at appropriate rates It must be noted that both direct sales and or net rental evidence at near the date of valuation will be used for properties of a particular class, quality, size, age or other features of comparability as determined by the valuers to determine typical base figures/basic prices per square metre of the constituent parts thereof.
The main building on the subject property being the most important. The unit value method converts the values and areas of ancillary features into terms of the principal building area according to relative worth.
This will be based on the Quantity Surveyors’ analysis of construction tender bids submitted for area projects or any reliable public information supplier source.
The selection of sales/rental evidence will be in principle following these criteria:
- Use
- Location
- Size
- Historical records and where available
- Date of construction
NOTE on Net Rental Value; this is the amount of rent at which it is estimated the hereditament might reasonably be expected to let from year to year if the tenant undertook to pay all usual increases in rates after occupation, and to bear the costs of internal repairs, insurance and other expenses, if any, necessary to maintain the hereditament in a state to command that rent before tax on profit and any allowances for interest on capital or loans This includes
ignoring any special receipts or deductions.
3. Industrial Properties
The method used for commercial property, depending on sales and or rental evidence, will apply, but where there is not enough evidence to reasonably support the methodology, the Depreciated Replacement Cost as Value will be used but based on market prices as evidenced by construction cost prevailing at near the date of valuation.
4. Agricultural Holdings Farm (Income Approach where farm records are acceptable other wise use direct comparable
The methodology will be the same as above in 3 2 1 and 3 2 2.
5. Specialized properties
This type of property may not be prevalent on the market and not transfer in volumes to allow acceptable analysis. We have defined specialized property as those which, due to their specialized nature, are rarely, if ever, sold on the open market for single occupation for a continuation of their existing use, except as part of a sale of the business in occupation. Their specialized nature may arise from the construction, arrangement, size or location of the property, or
a combination of these factors, or may be due to the nature of the plant and machinery and items of equipment which the buildings are designed to house, or the function, or the purpose for which the buildings are provided. There will be need to use the Depreciated Replacement Cost as Value method However Income Approach is appropriate where rental or income Evidence is available.
6. Infrastructure
The methodology will be the same as 3 2 5 above.
The Tribal Authority Villages while we have indicated the methodology to be used we believe that there is need to agree with the Municipality on the appropriate method most fair and equitable, based on actual results of our market research, since the properties are most likely not surveyed.
NB: Tone of The Roll It must be stated that the Law of Averages will be applied/adopted in all analysis, i e in any analysis of an occurrence, in this case sales and or lettings of properties, there will always tend to be high and low prices for what appears to be similar properties, but for property tax purposes, where being Fair and Equitable is the guiding principle for the proper distribution of the tax burden, the law of averages requires that the analyst uses average figures, not the highest and not the lowest but the mean.
