Valuer and retail leases update – Supplementary reports by valuers

In brief: In the June update, I made reference to valuers answering questions from a landlord or a tenant about a rental valuation. I cautioned valuers about doing this, as it can result in your rental valuation being set aside with it not always being classified as a supplementary valuation.

What you need to know:

Valuers need to exercise extreme caution in providing a follow-up or supplementary valuation at the request of the landlord or the tenant. At a minimum, I do not believe any further communication should be made to either party, say after 30 days since the valuation has been given.

If any further communication or supplementary report is to be given, it must be provided to both parties and their respective solicitors and valuers (if any).