The 14-day disclosure period in Victoria
The 14-day disclosure period in Victoria is the minimum time a landlord must allow between giving a prospective tenant a disclosure statement and the proposed lease, and the lease being entered into. Under the Retail Leases Act 2003 (Vic), the landlord must give the tenant both documents at least 14 days before the retail premises lease is entered into. The period gives the tenant time to read the documents and get advice.
What the landlord must give
Two documents, together:
- A disclosure statement in the prescribed form, available from the Victorian Small Business Commission (VSBC).
- A copy of the proposed lease, in the terms the tenant is being asked to sign.
The disclosure statement sets out the key facts about the lease and the premises. It usually covers:
- the rent, how it will be reviewed and when
- an estimate of the outgoings the tenant will pay, item by item
- the landlord’s works and any works the tenant must do
- the term and any options
- details of the shopping centre, if the premises are in one, including other tenancies and trading hours
- any incentives offered
The landlord is responsible for the accuracy of the statement, even if an agent prepares it.
How the 14 days works
| Step | When |
|---|---|
| Landlord gives the disclosure statement and proposed lease | Day 0 |
| Tenant reads them, gets advice and raises any issues | During the next 14 days |
| Tenant applies to the VSBC for a waiver certificate, if the term is under five years | Usually before the lease is entered into (the VSBC must consider requests up to 90 days after) |
| Lease is entered into | No earlier than 14 days after the documents were given |
Keep a record of the date the documents were given, such as the email they were sent with. If you’re close to the line, allow an extra day rather than argue about the count later.
The 14 days is a minimum, not a deadline. A tenant can take longer, and often does while terms are negotiated. If the term is under five years, see retail lease minimum term in Victoria for the waiver certificate.
What happens if the period is missed
If the landlord doesn’t give the disclosure statement in time, the Act gives the tenant remedies. Which one applies depends on when, or whether, the statement was given:
- Given before signing, but less than 14 days before. The Act generally treats the lease term as starting 14 days after the documents were given.
- Not given before signing. The tenant can give the landlord written notice no earlier than 7 days and no later than 90 days after entering the lease. The tenant may then withhold rent until the statement is given, and may be able to end the lease within 7 days after receiving it.
If the statement contains information that is materially false, misleading or incomplete, the tenant may be able to end the lease by written notice within a limited period after entering it. The Act itself doesn’t give a compensation remedy, but a tenant who suffered loss may have a claim under the general law, such as the Australian Consumer Law.
These rights depend on the facts and on strict time limits. A tenant who wants to rely on them should get advice before withholding rent or giving any notice.
Leasing retail premises in Victoria as landlord? We prepare the disclosure statement so it can go out with the lease. Retail lease disclosure statements.
Why landlords should give the statement early
A late or wrong disclosure statement can lead to disputes, and the risk sits with the landlord. A tenant who can withhold rent or end the lease puts the landlord’s income and the premises at risk.
Giving the statement early, with the final lease terms, avoids most of this. If the terms change during negotiations, update the statement so it matches the lease that is signed.
Disclosure on renewals and assignments
The Act also deals with disclosure when a lease is renewed and when a tenant assigns the lease to a buyer of the business. On an assignment, the outgoing tenant usually passes on the landlord’s disclosure statement and any changes since it was given. The documents and timing differ from a new lease, so check the rules for your situation.
How Victoria compares
Each state with a retail leases Act sets its own disclosure period.
| State | Act | Minimum disclosure period before the lease is entered into |
|---|---|---|
| Victoria | Retail Leases Act 2003 | 14 days |
| Queensland | Retail Shop Leases Act 1994 | 7 days |
| New South Wales | Retail Leases Act 1994 | 7 days |
If you lease premises in more than one state, don’t assume the timing is the same. See the 7-day disclosure period in QLD for how Queensland’s rule works.
Questions
Something else? Enquire online or email us.
Does the disclosure period apply to commercial leases?
No. It applies to retail premises leases covered by the Retail Leases Act 2003. An office or industrial lease with no retail use usually isn't covered.
Who has to give the disclosure statement?
The landlord. An agent often sends it, but the landlord is responsible for it being given on time and being accurate.
What should the tenant do during the 14 days?
Read the disclosure statement against the lease, check the rent, outgoings and term, and get advice on anything you don't understand. Raise issues with the landlord before signing.
Need a disclosure statement for a Victorian retail lease?
We prepare the landlord's disclosure statement to go with your lease, for a fixed fee. Send us the lease details online.
Retail lease disclosure statements in VictoriaEnquire Online
Sources
General information only, not legal advice. Every lease is different, so get advice on yours before you sign.