What does a disclosure statement contain?

A disclosure statement is a crucial document in property management that provides essential information pertaining to the condition of a rental property and any potential hazards associated with it. By containing detailed descriptions of the property's current state, such as structural integrity, the presence of mold, pest issues, or safety concerns, it enables tenants to make informed decisions before entering into a lease agreement.

Access to this information is vital for tenants as it significantly affects their living environment and overall safety. Transparency about property conditions also helps to establish a trusting relationship between landlords and tenants and can prevent disputes regarding property conditions during and after the lease term. Thus, a well-defined disclosure statement is an essential part of ensuring that tenants are aware of what they are renting, especially regarding any risks or responsibilities they may face.