Jones Lang LaSalle has released a Mandatory Disclosure Update Paper to help prepare building owners and tenants for the Commercial Building Disclosure Program, also known as Mandatory Disclosure, which came into effect on 1 November 2011.
The paper outlines four steps to follow to comply with the new disclosure obligations. These include:
1. Determine the eligibility of the area under the Building Energy Efficiency Disclosure Act (2010).
2. Review the expiry dates of your NABERS Energy rating and Tenancy Lighting Assessment. If you do not have a current NABERS Energy rating and a current Tenancy Lighting Assessment for the space, appoint an accredited assessor to undertake these ratings. Allow 4-8 weeks for NABERS Energy ratings and Tenancy Lighting Assessments.
3. Submit an application to Department of Climate Change and Energy Efficiency for a BEEC. The application must be submitted by a CBD Accredited Assessor and must include the NABERS Energy rating assessment number and the Tenancy Lighting Assessment number(s). Allow up to four weeks to process.
4. When you have a registered BEEC, commence transaction on the disclosure affected area.

Read the complete article here: http://www.thefifthestate.com.au/archives/28955