Operator Disclosure Requirements

Disclosure for intending residents reduces the risk of future litigation if residents become dissatisfied. These need to be made openly available for intending residents and can be promoted in a positive context to facilitate comparison between villages.

There is no national uniformity on requirements, though the following documents under the New South Wales Act provide good information:

  • Site plan with location, condition report, floor plans and dimensions
  • Audited Village accounts for the last three financial years
  • Examples of villages contracts
  • Trust deed for any trust fund monies
  • Village rules
  • Terms of development consent
  • Statements of fund balances for capital replacement or maintenance funds if established
  • Fee calculation method for departure or termination
  • Explanation of how termination can occur
  • Calculation method for recurrent charges

Protecting your reputation starts with simplifying the complex. This handy checklist should quickly point you in the right direction and help you understand whether you have a case, and where to start to secure the best possible outocme.