Member for Davidson, Jonathan O'Dea has welcomed public consultation on proposed reforms to retirement village regulations, which aim to make the move into a village easier and less stressful for retirees and their families.
“These reforms will help seniors looking at moving into a retirement village by clearly outlining their rights and responsibilities before they sign a contract,” Mr O'Dea said.
The draft regulation includes a standard contract to be used by retirement villages, a general enquiry document that explains the services and facilities available in the village and 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 O'Dea 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 O'Dea said prospective residents and their families will be able to examine the contractual terms and conditions for their local villages so they can determine the best option. He said the documents were developed by an expert committee made up of village residents, operators and legal professionals. The documents also take into account submissions received during earlier consultation on a draft of the standard contract.
“Moving into a retirement village is a major life decision and prospective residents need to clearly understand their rights and obligations,” Mr O'Dea said.
“The standard contract and disclosure documents will help to reduce the confusion and complexity that currently exists for prospective residents. Depending on the outcome of this consultation, it is my expectation that all retirement villages will be using the standard contract by September 2013,” Mr O'Dea said.
The draft Retirement Villages Amendment (Standard Contract) Regulation 2013 is available from www.fairtrading.nsw.gov.au or by calling 13 32 20.
Submissions can be lodged with NSW Fair Trading until 25 January 2013.
