Retail Lease Disclosure Statement in Victoria

What must the landlord give?

A retail lease disclosure statement in Victoria is a document the landlord gives a prospective tenant under the Retail Leases Act 2003 (Vic). The landlord must give the tenant these documents at least 14 days before the lease is entered into:

• a disclosure statement in the form set by the regulations
• a copy of the proposed lease

Earlier, as soon as negotiations start, the landlord must give the tenant the information brochure published by the Victorian Small Business Commission, with a copy of the proposed lease.

The disclosure statement sets out the key facts of the deal. These include the rent and how it is reviewed, the outgoings the tenant will pay and their estimated amounts, the term and options, the landlord’s and tenant’s works, and details of the centre if the shop is in a shopping centre.

The 14 days gives the tenant time to read the documents and get advice before signing.

If the statement is late, missing or wrong

The Act gives the tenant remedies where the landlord doesn’t comply. In general terms:

• If the statement is given before signing but less than 14 days before, the lease term is generally treated as starting 14 days after the documents were given.
• If the statement is not given before signing, the tenant can give the landlord written notice between 7 and 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 time after entering it.
• The Act doesn’t itself provide compensation, but a tenant who suffered loss because of wrong information may have a claim under the general law, such as the Australian Consumer Law.

How these rights apply depends on the facts, including the dates and what the error was. We tell you where you stand.

For landlords

We prepare the disclosure statement alongside the lease, on the current form. We fill it in from your information about the premises, rent, outgoings and works, and check it matches the lease. We also set out the timing so the 14 days run before the lease is signed.

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For tenants

We review the disclosure statement against the lease. We point out where the two differ, whether the estimated outgoings look complete, and whether the documents came on time. If something is wrong, we explain your options before you sign, or after if you have already signed.