A rental provider must disclose to a rental applicant the following information:
If there is an embedded network and details of tariffs and operator
If there has been a homicide in the last 5 years
If there has been any drug related use
If any notice, order, declaration, report or recommendation issued by a relevant building surveyor, public authority or government department that applies to the rented premises or common property at the time of disclosure;
If there is a current domestic building work dispute under the Domestic Building Contracts Act 1995 which applies to or affects the rented premises;
If there is a current dispute under Part 10 of the Owners Corporations Act 2006 which applies to or affects the rented premises;
A copy of any owners corporations rules applicable to the rented premises
This disclosure is required by the rental provider each time the rental provider issues a lease and from the Australian Strata Insights https://www.strata.community/australasian-strata-insights-2020 report approx. 50% of Strata properties are rented, the request for this information will be an increase in workload and a new schedule 2.2 opportunity.
The new rental disclosure is very similar to prescribed items contained in an Owners Corporation Certificate and currently the fee is:
Certificate within 6-10 business days 9.64 fee units
Certificate within 3-5 business days 14.46 fee units
Certificate within 2 business days 17.35 fee units
It is not known if the new disclosure will be a “prescribed form” or just prescribed information. All the associated forms will be released prior to 29March, 2021 by Consumer Affairs.
In case you were wondering, in comparison the Landlord Academy website advises that for 2017 average real estate agent fees were:
Management fee – 7%
New Letting fee – 2 weeks rent plus GST
Advertising – $180
Postage/Admin – $9 per month
EFY Statement – $52
Tribunal preparation & attendance (about $200)
Lease renewal for current tenants ($50 to 1 weeks rent)
Tenant checks on NTD and TICA (about $29 per check)