This is a basic list of obligations, some of which are statutory:
- Insurance to full replacement value and public liability of not less that $10,000,000
- Security of premises in regards to working locks
- Provide statements of proposed expenditure 60 days prior to the start of a financial year
- Annual audit of village accounts
- Do not request or exercise a power of attorney or proxy on behalf of a resident unless the resident is a relative
- Ensure compliance of village rules and legal terms in village contract
- Access to resident’s premises in accordance with retirement village laws
- Seek residents’ consent for proposed variations to village rules
- Use of any ingoing contributions and departure fees paid by residents
- Settle disputes through Residential Tribunal
- Follow the National Privacy Principles as minimum standards for handling residents’ personal information
