An easement gives someone the right to use a section of land for a specific purpose even though they are not the owner of that land.
There are many different types of easement agreements but common ones include:
- Utility easement: an agreement between a property owner and a utility company to allow power lines, water piping or other types of utilities through a property. This entitles them to access the land to repair, maintain or replace parts related to these utilities
- Private easement: usually between two private parties, it allows one party the right to use a piece of property for personal need, e.g. a dam
- Easement by necessity: arises when one party is required to use a neighbour’s driveway to access his home.
Easements can positively or negatively affect property values. For example, unsightly power lines can lower the visual appeal of a piece of land. Property value may also be affected by restriction on the use of the land resulting from the easement. On the other hand, if the property has the right to use someone else’s land, this is usually a benefit and may increase the value of the property.
Prior to purchasing any property, a prospective buyer should consider the effects, particularly the restrictions, an easement or right of way may cause. It could for example affect new constructions or alterations to the property.
Independent valuers you can trust
The registered valuers at McLennan Steege Smith (McSS) are all experienced in conducting valuations on easements for either party including drainage, electrical, transmission, sewerage, right of way and various other easement types.
Land owners can also be compensated when easements like shared driveways, power, telephone lines or drainage easements make up part of their property.
An honest and personal approach
McSS has been assessing and valuing property for well over 25 years and is well respected within the Sydney property industry. We are proud of the fact that much of our business is built on repeat clients and referrals. We offer the following benefits:
- Registered valuers with extensive experience and formal qualifications
- Adherence to stringent industry standards and a rigorous code of ethics
- Accurate, independent and effective reports
- Obligation-free quote based on your personal needs
- Guaranteed turnaround times to meet the requirements of courts
- Ongoing communication and personal service where you deal directly with the valuer
- In-depth knowledge of the Sutherland Shire, St George and the Sydney metropolitan area.
Offering independent and accurate advice
Contact us today to find out more about how we can help you with your valuation or to request an obligation-free quote.