How do I choose a Quantity Surveyor?
Not choosing the right Quantity Surveyor could cost you significantly in the long run. Comparing fees alone is a big mistake, as the service provided will differ. Each Quantity Surveyor has a different set of skills, whether this is specialising in cost planning, residential property, infrastructure, or commercial construction. We must first look at whether the company or Quantity Surveyor you are looking to engage will be a member of one or both professional associations in Australia. This includes the RICS (Royal Institute of Chartered Surveyors) or the AIQS (Australian Institute of Quantity Surveyors) Both professional associations have different levels of membership, from graduate members to fellows.
It is important to select a Quantity Surveyor who has a minimum Full Member Grade. You will notice they use the initials MRICS or MAQIS to identify the member grade. As you are looking to complete a Tax Depreciation Schedule you will also need to select a Quantity Surveyor who is a registered tax agent with the Tax Practitioners Board (TPB). You can visit the website of the TPB and complete a search, which will show if they have a registration number or whether they have any suspensions recorded.
This is the minimum requirement to look out for. You should then look to select a Quantity Surveyor who has experience estimating costs for your asset. This is not as important for residential property estimating as it is for commercial property estimating, but it is still an important consideration. Remember, not all Quantity Surveyors are Tax Depreciation Specialists who have a thorough knowledge of the current tax legislation, which is complex. If you would like to talk to one of our specialists, please give us a call.