Rode & Associates Combines Valuations and Storm Risk Checks

Across much of South Africa, the summer months bring afternoon storms, downpours and, in certain areas, a real threat of floods and fires. That seasonal shift is a timely prompt for property owners: knowing what a building is worth counts for little unless the risks it faces are clearly understood and correctly covered. Sandton-based valuation, advisory and consulting firm Rode & Associates is marking the arrival of summer by highlighting its risk survey analysis service and showing how that work connects with its independent, certified valuations for market and insurance purposes.

Many owners treat a valuation and a risk survey as unrelated tasks, frequently handled by separate providers at separate times. At Rode & Associates, the two sit side by side, which means the number that appears on an insurance schedule and the review of the risks to that asset are built on the same knowledge of the property.

Inside the risk survey

The firm's risk survey analysis spans compliance audits, the implementation of health and safety measures, skills development and capacity building, staff and management preparedness, and development advisory on safety systems and fire protection. Three core services fall under this umbrella.

First comes the pre and post risk survey, a complete inspection of the risk being insured, carried out to meet the requirements of insurance underwriters. Second is a risk assessment that examines fire spread, exposure to flooding and readiness for incidents. Third is a package of risk mitigation services, which includes action plans, risk management guidelines, emergency response procedures and guidance on occupational health and safety.

As the summer storm season approaches, an assessment focused on flood exposure and the spread of fire shows an owner exactly where a property is at risk, while the mitigation plan lays out the practical steps available to address it.

Linking value and risk

Every insurance policy relies on two figures being accurate: what the insured item is worth and how likely it is to suffer a loss. Set the replacement value too low and a claim may not cover the damage. Misjudge the risk and the cover may be priced incorrectly, or important conditions may be overlooked. Independent Property valuations for insurance purposes determine the cost of replacing a building and its contents, and the risk survey then shows both the underwriter and the owner how well that asset is protected.

Rode & Associates carries out market and insurance valuations on every kind of asset: retail, commercial, industrial and residential property; plant, machinery, equipment and technical assets; fine art and antiques, contents included; and a range of other general and specialised assets. According to the firm, its methods have been refined since the Covid-19 pandemic so that valuations are now more cost efficient, more accurate and turned around faster.

One firm for every asset need

The company was set up to handle all of a client's valuation and related needs, whether the assets are fixed or movable. Its mission, as it describes it, is to deliver independent and certified valuations backed by complementary advisory and consulting services, giving clients what they need to make decisions that support their business goals and financial well-being.

Alongside valuations and risk surveys, Rode & Associates provides asset registers using 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 specialist services for the hospitality and eco-tourism sector. Clients who prefer ongoing oversight of their assets, rather than a single valuation, can also use its Life Cycle Management Programme and Maintenance Management Programme.

Rode & Associates holds certified Level 2 BEE status and counts private, listed and government organisations among its clients.

Sound data for shifting conditions

Decisions about insurance, financial reporting and investment are only as strong as the information behind them. Replacement costs, rentals and asset values keep shifting in the South African property market, so a valuation that has fallen out of date can leave an owner vulnerable. Looking at values and risks at the same time, and doing so before a loss occurs instead of afterwards, puts owners in a stronger position when negotiating cover or planning capital expenditure.

In its valuation work, Rode & Associates combines property data with physical site inspections, so its figures take account of both market evidence and the actual state of the asset. The risk survey adds another dimension by recording the safeguards already protecting a property and the shortcomings that still need to be dealt with.

About the Rode Reports

Many people also know the Rode name through 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 linked from the Rode & Associates website. The focus of Rode & Associates itself is valuation, advisory and consulting.

Planning ahead of peak season

November and December are sensible months for owners of commercial and industrial buildings, residential portfolios, hospitality properties and public assets to book a risk survey and a refreshed insurance valuation. Site inspections can be finished before the holiday shutdown, leaving time to schedule any recommended mitigation work for the new year.

A single site visit can also do more than one job. Owners planning to sell an asset, refinance a property or bring a financial asset register up to date in the new year can use the same inspection to collect the information those decisions require. The firm's buying and selling consultancy is one example: it uses in-house valuations, condition reports and independent advice on the best route to buy or sell an asset, be it through agents, brokers or auction houses, while keeping the process confidential from start to finish.

Further details on 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 delivers independent, certified valuations for market and insurance purposes, supported by advisory and consulting services. Its expertise extends to property, plant and machinery, fine art and antiques, businesses and intangible assets, and its offering includes risk survey analysis, barcoded and RFID asset registers, GRAP 103 compliance for heritage assets and asset life cycle management. A certified Level 2 BEE company, it works with private, listed and government organisations.