In strata and community title schemes, certain areas of common property may be granted for the exclusive use of a specific lot owner — such as courtyards, car spaces, balconies, or storage areas. While these areas remain technically common property, their exclusive access can significantly impact property value and must be assessed with care.
At Sydney Property Valuers, we specialise in providing accurate and independent valuations of exclusive use areas. Our services support by-law creation or amendment, compensation assessments, dispute resolution, and formal transfers or acquisitions. We ensure that the value of the exclusive use space is fairly determined, reflecting its size, location, utility, and market demand.
For broader strata valuation requirements, our Strata Unit entitlements service provides specialist assistance.
Exclusive use means a lot owner has the right to use part of the common property exclusively, usually granted through a special by-law.
Yes — depending on the size, location, and utility of the space, exclusive use areas can materially improve a lot’s value or appeal.
They can be formalised through by-law or converted into lot property, but valuation is essential to determine fair compensation or market value.
While not always mandatory, a valuation helps ensure transparency and fairness, especially where compensation is paid or market value is relevant.
Sydney’s dynamic growth and strong economy have contributed to rising real estate prices in recent years.