Here at RTP, we have been busy working our way through towards the end of Spring, and looking forward to summer which will shortly be upon us. The summer is always a busy period for the team, with many people looking to either move, or have improvement work to their properties carried out during the warmer months. Here are some of the things the RTP team has been up to in May.
Alistair Strachan has been overseeing repair and reroofing works to a residential property in St Mawes, as well as working on the preparation process for an extension to a home in Port Navas, and working closely with our client on the Planning process for an extension to a warehouse on a Redruth Industrial Estate.
John Darbyshire has been working with Budock Vean Developments to procure the next phase of the planned development of holiday homes within the grounds of the Budock Vean Hotel, near Falmouth. He is currently working on the detailed design and specification before making preparations to start work on site. He has also been working with several clients to diagnose various domestic problems, which have ranged from water ingress and dampness, through to noisy drainage. Following the diagnostic process, John has been busy arranging and managing the necessary remedial works.
Nathan Dean recently spent one of his days during May carrying out a survey in Kenton, Near Exeter, once again taking RTP across the border into Devon. He has also focused on inspecting defective workmanship in Bodmin, identifying the issues and also specifying remedial works. As well as valuing a garden plot in Port Isaac, he has also attended an interesting array of domestic property surveys of various structures and locations.
In addition to the above, Richard Thomas has been spending some of May working on insurance valuation related matters, and says, ‘We have noticed an increased concern with regard to Buildings Insurance. It is important to note that a buildings insurance figure relates entirely to the cost to reconstruct a building following damage or demolition, and has nothing to do with the market value. Too often when purchasing a property the purchaser will give the market value as an insurance figure. Every property owner should have a proper reinstatement valuation and generally this will be provided in a survey or mortgage valuation report.
This becomes even more complex for commercial or industrial buildings, and in particular buildings with unusual features or elements of historic interest.
In addition, insurance companies in these trying times are far less flexible if there is a hint of under insurance or non-compliance with insurance conditions. If there is evidence of under insurance they will apply what is known as ‘average’, which offers a proportion of the insurance level in a claim dependent on the extent of under insurance.’ If you would like further advice and guidance on this matter, please contact Richard Thomas who will be happy to help.