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How often should a commercial property valuation be updated?

Commercial property valuations should be updated regularly, particularly when there are significant changes in the property market or the property itself. It is recommended to obtain a new valuation during key events such as property sales, refinancing, major renovations, or changes in rental income. Additionally, updating valuations every few years helps ensure that you have an accurate understanding of your property’s market value, which is essential for investment decisions, tax assessments, and financial reporting.