CHL is inviting proposals from valuation providers for the following contract;

A national 3 (three) year contract (with optional 2 (two) year extension) for the provision of valuations of housing stock (approximately 2500 valuations over the contract term) for the purpose of compliance reporting, mortgage purposes, determine insurable value, rent setting purposes and additional adhoc valuations.

The scope of the Works under this Contract comprises but is not limited to the following Work streams:

• Mortgage Valuations: This type of valuation is usually initiated by a lending institution’s request to undertake this practice. This requires a formal approach to be made to a panel approved valuer who will provide an extensive report to the lending institution. These valuations are typically required every three years or whenever a refinance of the lending facility secured by the property is sought. The type of valuation may be either desktop, kerbside or a full internal inspection. Full internal inspection is the preferred means for mortgaged properties.
• Stock Valuation: This type of valuation is used to obtain CHL asset values for CHL finance department. This occurs on a three-year rolling cycle for each property and requires a variety of kerbside and full valuations. The principal test in determining fair value of an asset is whether there is an active and liquid market available for that asset. These valuations are required by April and will be ordered between July and November.
• Market Rent Valuations: This type of valuation sets upper benchmarks that apply to CHL rent settings. Some government programs, eg: the National Rental Affordability Scheme (NRAS) require CHL to use formal market rent valuations by independent registered Valuers to remain compliant with the program requirements. NRAS valuations are required in years one, four and seven after the date the property first became available for rent. A 91 day tolerance period applied either side of the anniversary of the first available for rent date.
• Insurable Value Valuations: This valuation establishes replacement cost or actual cash value of a building for which standard insurance policies provide indemnity cover. These valuations are indicating the limit of indemnity that will be paid at the time of loss.
• Each year about 60% of the owned properties need generic AVM’s (Automated Valuation Estimate) conducted. If a Tenderer has the capability to provide this service, include a breakdown of the process and costs in your application.
• CHL is also considering conducting desktop analysis of a portion of the properties being managed (over 1,500) for rental purposes only, whether this does go ahead will depend on the associated costs and the offer of the Tenderer.

Orders will be placed throughout the Contract Period for different types of valuations. Some valuations will need to be conducted internally. Properties are likely to be occupied by Tenants of the Client whilst the valuation is undertaken.

The Client engages with diverse groups and the successful tenderer is expected to provide a consistent level of service, regardless of ethnicity, religious views, age, and personal circumstances.