Retail Lease Disclosure Statement in NSW
In NSW, the landlord must give a disclosure statement and the lease at least 7 days before a retail lease is signed. We prepare disclosure statements for landlords and check them for tenants.
- Fixed fee, confirmed before we start.
- For landlords and tenants.
- Done online, Australia-wide.
The lessor’s disclosure statement
A retail lease disclosure statement in NSW is required by the Retail Leases Act 1994 (NSW). The landlord (the lessor) must give the tenant (the lessee) a lessor’s disclosure statement and a copy of the proposed lease at least 7 days before the lease is entered into.
The statement follows the form in Schedule 2 of the Act. It sets out the key facts of the deal, including:
- the rent and how it is reviewed
- the outgoings the tenant will pay and their estimated amounts
- the term and any options
- the landlord’s and tenant’s works and fit-out
- details of the centre, if the shop is in a shopping centre
The lessee’s disclosure statement
The tenant also gives the landlord a lessee’s disclosure statement, signed by the tenant, within 7 days after receiving the lessor’s statement, or a longer period the landlord agrees. It acknowledges what the landlord has disclosed and records any other representations the tenant is relying on. Read it carefully before signing. A representation you don’t record may be hard to rely on later.
If the lessor doesn’t comply
If the lessor’s disclosure statement isn’t given at least 7 days before the lease is entered into, or it is materially false, misleading or incomplete, the tenant may be able to terminate the lease by written notice within 6 months of entering it.
The landlord may be able to resist termination if it acted honestly and reasonably and the tenant is in substantially as good a position as if the statement had been correct. The tenant may also be able to claim compensation for loss caused by wrong information.
How these rules apply depends on the dates and what went wrong. We tell you where you stand.
For landlords
We prepare the lessor’s disclosure statement with the lease, on the current form, and check it matches the lease. We set out the timing so the 7 days run before the lease is signed.
For tenants
We review the lessor’s disclosure statement against the lease and point out where they differ. We also check the lessee’s disclosure statement before you sign it.
Questions
Something else? Enquire online or email us.
Where do I get the disclosure statement forms?
The forms are set out in Schedule 2 of the Act. The NSW Small Business Commissioner publishes them for use. Check you have the current version.
Need a disclosure statement?
Send us the lease, or the terms you've agreed, and we'll tell you the next step.
- Fixed fees.
- Online, Australia-wide.
- Landlords and tenants.