Anthony Roberts, the NSW Minister for Fair Trading has announced a public consultation on proposed reforms to retirement village regulations. The aim is to make moving into a village easier and less stressful for retirees and their families.
A draft regulation includes a standard contract, a general enquiry document that explains what services and facilities are available in the village, plus a disclosure statement to be given to potential residents before they sign a contract.
“The NSW Government is committed to building a stronger retirement village sector for the benefit of residents and operators,” Mr Roberts said.
“As part of this commitment, we have been developing a standard retirement village contract and related disclosure documents.
“We want prospective residents to be able to compare costs and conditions between villages before they sign on the dotted line.”
Mr Roberts said the documents were developed by an expert committee made up of village residents, operators and legal professionals.
“Moving into a retirement village is a major life decision and prospective residents need to clearly understand their rights and obligations,” Mr Roberts said.
The Chief Executive Officer of Aged and Community Services Association NSW & ACT, Illana Halliday, welcomed the step towards standardised contracts.
Submissions can be lodged with Fair Trading until 25 January 2013.