Here’s what you need to know about Disclosure Statements.

Recently a significant number of changes have been made to the Residential Tenancies Act which have impacts for rental providers, tenants, and property managers. These new rentals rules have been designed with the goal to create a fairer, safer system for all Victorians.

Disclosure Statements

A disclosure statement gives a potential tenant overall information to be able to make an informed view of a property they are considering leasing, and allows them to make a commitment to the tenancy. It’s a checklist for renting your home.

A disclosure statement might include information about amenities, e.g. locks, bins, toilets, windows, lighting, a dedicated space for feed prep in the kitchen, access to hot and cold water – for the full list, head to the Victorian Consumer Affairs website, or check below.

It’s a legal requirement that the Disclosure Statement is filled out by the landlord. This cannot legally be completed by the agent. You may require some more details with some of the information and this is where your Agent can help. So if you’re finding it all a bit overwhelming, reach out to one of the team at Barry Plant. We can support you in finding and managing the right tenant for your property.

What Does a Disclosure Statement Cover?

A potential renter must be informed about any issues, particularly in the last three to five years, including:

• Is the property for sale? Or affected by a building or planning application?
• Is there current building work underway?
• Is there action underway to enforce a mortgage over the property?
• Is the rental provider the owner of the property?
• Has the property been the location of a homicide in the last five years?
• Is the electricity supplied as part of the network? Has the gas and electricity been recently checked?
• Does it comply with minimum standards?
• Is there mould or damp? Asbestos? Contamination from drug trafficking or cultivation?
• Is it heritage listed?
• Are there building defects or safety concerns?
• Are there owners’ corporation rules?
• Is there an internal dispute which affects the premises?

3BA Interview with Gaile Atkinson

Have a listen to Gaile Atkinson, the Licensed Estate Agent from Barry Plant Real Estate, Ballarat, speaking with Brett Mac on 3BA. – Listen here. Gaile covers everything you need to know about Disclosure Statements, but if you have more questions, we’d love to hear from you. Gaile has over 45 years’ experience in the real estate business. You can reach Gaile on 03 5320 9300, or drop in and say hello, at 804 Sturt St, Ballarat. At Barry Plant, it feels like home!