Q: Why is a Mandatory Disclosure Form needed?
The Mandatory Disclosure Form (MDF) is needed to confirm the condition of a property. This may influence a prospective Tenant’s decision to occupy the property or not. It also makes the Tenant aware of potential maintenance concerns.
According to the Property Practitioners Act, having an MDF is a legal requirement. As such, you need an MDF to be compliant. Property practitioners can be held financially liable if the MDF is not presented to new tenants.
It is both necessary and ethical to make a tenant aware of the property’s condition, as any major damage discovered after they take occupancy could obstruct their use of the property.