The NSW Government has introduced a number of important changes
to the regulation of retirement villages in NSW, in the
Retirement Villages Amendment (Standard Contract) Regulation
2013 (2013 No 158). The changes, effective 1 October
2013, include the development of a standard contract for
retirement villages. There are also some new requirements about
what documents operators must provide before prospective residents
sign a contract.
The aim of these new requirements is to make it easier for a
prospective resident to compare the costs and conditions between
villages before signing a contract.
The 2013 amending Regulation modifies the Retirement Villages
Regulation 2009 to include three compulsory documents:
Standard retirement village contract (a new
General inquiry document that an operator must
provide within 14 days after becoming aware that a person is a
prospective resident, or acting on behalf of a prospective resident
(a new document)
Disclosure statement that an operator must
provide to a prospective resident, or person acting on behalf of a
prospective resident, within 14 days after that person requests a
copy or expresses an interest in particular premises in
the village (replaces the previous prescribed form of disclosure
What do you need to do?
To help operators transition to the new requirements, NSW Fair
Trading has developed template contracts for the five most common
village types. These can be downloaded free-of-charge from the
NSW Fair Trading website, where the new retirement village
contract and disclosure documents are also available. Operators may
adapt the contract for their village with a logo and any additional
terms. The additional terms can be added so long as they do not
conflict with the requirements of the retirement village laws or
any other laws.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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The Council announced planning policies to encourage more inner suburban retirement village and aged care development.
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