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Accrue Property Pty Ltd - Enforceable undertaking

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16 January 2015

The Director of Consumer Affairs Victoria has accepted an enforceable undertaking from property investment company Accrue Property Pty Ltd (ACN 151 840 274); the company has agreed to amend information from its website that, in the view of the Director of Consumer Affairs Victoria, is false or misleading.

Accrue Property Pty Ltd acknowledges that its conduct, in the Director of Consumer Affairs Victoria’s view, contravened the Australian Consumer Law (ACL), by: 

  • making false or misleading statements on its website,  accrueproperty.com.au, about the quality, value or grade of its services 
  • falsely implying that its services had government sponsorship or other form of government approval 
  • implying that its services had approval from or affiliation with the National Rental Affordability Scheme (NRAS), when they did not
  • publishing testimonials that claimed to be from clients of Accrue Property, but were actually from clients of a related company. 

Accrue Property agreed to: 

  • remove all statements that, in the Director’s view, constituted false or misleading statements from its website and not republish them 
  • implement a two-year compliance program to ensure all materials it produces comply with the ACL
  • review all material currently published on its website in accordance with its compliance program 
  • pay $5000 to the Victorian Consumer Law Fund. 

These undertakings apply to Accrue Property’s conduct nationally. 

The undertaking remains in force for two years.

Download the full text:

Accrue Property Pty Ltd - Enforceable undertaking (Word, 76KB)

Accrue Property Pty Ltd - Enforceable undertaking (PDF, 1.5MB)

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