When summer reaches South Africa, it often brings afternoon thunderstorms and heavy downpours, and some regions also face a higher risk of flooding and fire. These weeks remind property owners that a building’s value only protects them when the risks to that building are understood and properly insured. Sandton valuation, advisory and consulting firm Rode & Associates is using the start of the season to promote its risk survey analysis service and to show how that work ties in with independent, certified valuations for market and insurance purposes.
Many owners treat a valuation and a risk survey as unrelated jobs. They often hire different providers for each, at different points in the year. Rode & Associates does both. As a result, the amount on an insurance schedule and the review of the risks facing the asset come from one consistent understanding of the property.
Inside the risk survey
The firm’s risk survey analysis covers several areas: compliance audits, putting health and safety into practice, skills development and capacity building, preparedness among staff and management, and development advisory on safety systems and fire protection. Three core services sit within this offering.
The first is a pre and post risk survey, a full inspection of the risk to be insured, carried out to meet insurance underwriters’ requirements. The second is a risk assessment that examines how fire could spread, how exposed the site is to flooding and how ready it is for an incident. The third is a package of risk mitigation services, including action plans, risk management guidelines, emergency response procedures and guidance on occupational health and safety.
With the summer storm months ahead, an assessment focused on flood exposure and fire spread shows an owner exactly where a property is weak. The mitigation plan then explains how those weaknesses can be addressed.
Linking value and risk
Every insurance policy relies on two numbers being correct: the value of the insured asset and the chance of a loss. A replacement value that is set too low can leave a claim short. A risk that is poorly understood can lead to cover being mispriced or to conditions being overlooked. Independent Property valuations for insurance purposes set out what it would cost to replace a building and its contents. The risk survey then shows both the underwriter and the owner how that asset is protected.
Rode & Associates values every type of asset for market and insurance purposes. This covers retail, commercial, industrial and residential property; plant, machinery, equipment and technical assets; fine art and antiques, including contents; and a range of other general and specialised assets. According to the firm, it has refined its methods since the Covid-19 pandemic so that its valuations are more cost efficient and more accurate, with a faster turnaround.
One firm for every asset need
Rode & Associates was set up to handle all of its clients’ valuation and related needs, for both fixed and movable assets. Its stated mission is to deliver independent and certified valuations, supported by advisory and consulting services, so that clients can make the decisions needed to reach their business goals and protect their financial well-being.
Valuations and risk surveys are only part of the offering. The firm also provides asset registers with barcoding and RFID, GRAP 103 compliance for heritage assets, valuations of businesses and intangible assets, consultancy on buying and selling key assets, mining consultancy, and specialised work in the hospitality and eco-tourism sector. Clients who want their assets managed over time, rather than valued just once, can use its Life Cycle Management Programme and Maintenance Management Programme.
Rode & Associates is a certified Level 2 BEE company, and its clients have included private, listed and government organisations.
Sound information for a moving market
Decisions about insurance cover, financial reporting and investment all depend on reliable information. Replacement costs, rental levels and asset values keep shifting in the South African property market, so an out-of-date valuation can leave an owner exposed. Owners who review values and risks side by side, before a loss rather than after one, are in a stronger position when they negotiate cover or plan capital spending.
In its valuation work, Rode & Associates combines property data with on-site inspection, so its figures reflect both market evidence and the physical state of the asset. The risk survey adds another layer by recording the measures that protect a property and the gaps that still need to be closed.
About the Rode Reports
Many people also know the Rode name from its published research on the property sector. Anyone searching for the Rode Report, the Rode Retail Report, the Rode SA Property Trends Report or the Time Series data sets should note that these property reports now fall under Rode Publications & Media, which is signposted from the Rode & Associates website. Rode & Associates itself concentrates on valuation, advisory and consulting services.
Getting ahead of the season
November and December are sensible months to book a risk survey and an updated insurance valuation. This applies to owners of commercial and industrial buildings, residential portfolios, hospitality properties and public assets. The inspection can be finished before the holiday shutdown, and any mitigation steps it identifies can be scheduled for the new year.
One visit can also cover other needs. An owner planning to sell an asset, refinance a property or update a financial asset register in the new year can use the same inspection to collect the information those decisions require. For example, Rode & Associates’ buying and selling consultancy uses in-house valuations, condition reports and independent advice on where to buy or sell an asset, whether through agents, brokers or auction houses, and keeps the process confidential throughout.
Details of Rode & Associates’ valuation, risk survey and advisory services, along with the company brochure, are available at https://rode.co.za/.
About Rode & Associates
Based in Sandton, Rode & Associates provides independent, certified valuations for market and insurance purposes, along with advisory and consulting services. Its work covers property, plant and machinery, fine art and antiques, businesses and intangible assets. It also offers risk survey analysis, asset registers with barcoding and RFID, GRAP 103 compliance for heritage assets and asset life cycle management. Rode & Associates is a certified Level 2 BEE company serving private, listed and government organisations.
Media Contact
Rode & Associates
Email: [email protected]
Phone: +27 86 122 4488
Website: https://rode.co.za/
