The updated guide to retail leasing in Victoria provides tenants with clear, accessible information about their rights and responsibilities, the Shopping Centre Council of Australia (SCCA) says.
The Retail Leases Information Brochure for Tenants, issued by the Victorian Small Business Commission (VSBC), will become mandatory for new retail lease negotiations from July 1.
According to the SCCA, the updated brochure helps retail tenants make informed decisions before entering into a lease and avoid common issues that can lead to costly disputes. It is also available in multiple community languages, supporting the state’s diverse small business sector.
Angus Nardi, CEO of the SCCA, described the updated brochure as an important tool in supporting transparency and a critical part of the retail leasing process.
“Our industry has long supported measures that assist tenants to make informed decisions and contribute to a more transparent, efficient and effective retail leasing system.
“We appreciate the Victorian Government and the Victorian Small Business Commission engaging with industry stakeholders throughout the development of the updated brochure and look forward to its implementation from July 1,” Nardi added.
The SCCA encourages landlords and leasing representatives to familiarise themselves with the brochure and ensure their leasing documentation is updated ahead of the commencement date.
Landlords and their representatives are also encouraged to download the updated document and start providing it to prospective tenants. Those who fail to provide the brochure may face a fine if the VSBC investigates and decides to prosecute.
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