Proposed Changes to the Retirement Villages Act

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This new RVRA petition proposes changes to the Act, to provide much needed financial relief to Village Residents, two-thirds of which are 80 year old widows, some of whom cannot afford to move on to Care Facilities.

This will entail making changes to the Existing and Future Village Contracts.

Vote for the RVRA petition to the make these changes happen.

Proposed Changes to the Retirement Villages Act

The RVRA has submitted a list of proposed changes to the Act. There are too many to highlight them all. We have summarised three of the main changes we are proposing:

Excessive Departure Fees:
These fees should be based on the Cost Price not the Selling Price of the Unit. This could save a Resident departing after 10 years up to $94000.

Registered Interested Holder Clauses mean that a resident may wait years for their refund.

These Clauses need to be changed in both Existing and Future Contracts, If not some Residents may not be able to afford to move on to Assisted or Higher Care Facilities.

Capital Works and Large Scale Painting:

It was agreed in a Public consultation draft in 2009, between the Retirement Living Council and the RVRA that “painting external surfaces” would be the responsibility of the Village Operator. This was changed in the NSW Upper House to make it the resident’s responsibility. These costs amounted to $70,000,000 for NSW in 2009 and have been increasing ever since.

These changes must be reversed, why should residents pay for the painting of external surfaces of buildings they do not own?

Capital Works Funds:

These funds are for capital maintenance and should be allocated against specific capital maintenance projects for the upcoming financial year. They must include any quotes that have been obtained. These details are often not supplied, resulting in the fund being abused and used to fund the Operators costs.

The costs of each maintenance item, the quotes, commencement and completion dates, must be provided in the future to reduce the increases in monthly costs and the financial transfer of the owner’s responsibility to the residents.

Thank you for your support!

For more information, come to our website: RVRA