Retirement Village legislation is state-based. This lack of uniformity causes issues for operators located in more than one state.
The complex and constantly changing regulations result in increased costs for operators and need to be accounted for in projecting costs for the set up and operation of a village. Cost exposure has increased in the following areas:
- Capital costs, refurbishment and reduced scope to recover maintenance and outgoings from residents
- Automatic refunds to residents on termination
- Delays resulting from restrictions on resale of units
- Consumer activism that causes liability and litigation costs
We are active contributors to the Retirement Village Association and the Aged Community & Services Association, the peak industry bodies for the retirement village industry. Active in all states of Australia, both organisations provide products and services to retirement villages and their residents.