Act Review Summary

The table below shows the key components of the review we are undertaking.

Each component has some important sub-components which are described in detail in the Discussion Paper.

Have a read through the Discussion Paper and the questions and get involved!

Retirement Villages Act key component	Sub-components within each topic
1. Before moving into a village	Deposits
	Disclosure statement
	Information to be provided before a person can sign a residence contract
	Disclosure period before signing a contract
	Cooling-off period
	Repayment of an in-going contribution if a resident cools-off
	Premises condition report
	Purchasing residences off the plan
	Settling-in period
2. Matters relating to living in a village	Financial matters: Increases in recurrent charges Breakdown of expenditure items in a village’s budget Breakdown of expenditure items in audited statements
	Process for an increase in recurrent charges: Residents paying increased fees before the annual meeting
	Consultation with a residents’ committee
	Other financial requirements – surplus and deficit policy
	Proceedings at meetings of residents: Voting One vote per residence Special resolution definition Minutes of meetings
	Consultation with residents: Residents’ committees Consultation with all residents Residents’ committees Consultation with all residents
	Disputes: Dispute resolution policy Disputes – SACAT process
	Lease of land in a retirement village
	Rental tenants in retirement villages
	Health and safety: Code of Conduct Emergency procedures
3. Leaving a village	Termination of a resident’s right to reside in a retirement village
	Notice to vacate but remain in occupation
	Remarketing of a residence: Remarketing policy Resident participation in remarketing
	Refurbishment or reinstatement of a residence: Vacated premises report Refurbishment or renovation of a residence
	Leaving a retirement village to enter aged care
	Payment of recurrent charges for six months after vacating a village
	Payment of exit entitlement: Payment of an exit entitlement after 18 months Information about where an exit entitlement is to be paid
	Exit fees
4. Miscellaneous/other issues	Endorsement of certificates of title
	Villages with multiple sites
	Definitions in the Act
	The requirement for an ingoing contribution
	Abandoned goods
	Exemptions
	Terminating a retirement village scheme
	Enforcement of legislation
	Home care services in retirement villages

Consultation has concluded