Retirement village exit entitlements and recurring charges cap

Submission cover sheet

  • Name of organisation or individual making this submission

    Anonymous

Questions on possible options

  1. Is the description of the ‘Sydney Metropolitan Area’ appropriate? If not, why not, and what areas should be included or excluded?

    Yes

  2. Are the proposals for appointing a valuer, to determine the value of the property, necessary and appropriate?

    No. Iwas presssured to accept the operators own valuer and resale team in order for a timely processing of my purchase and entry into this village

  3. Where residents wish to sell their residence on their own terms, under what circumstances should they be able to opt in or opt out of the exit entitlement provision?

    Opt out when the operator cannot fulfill resale or tkaes more than 15 days to engage a resale team.

  4. What issues should the Tribunal take into account when considering whether or not the operator has done everything in their power to enable the sale of a premises?

    Proof of efforts in reselling the unit upon exit and especially upon death of owner.

  5. Are there any additional circumstances the Tribunal should be able to take into account when considering a hardship application from an operator?

    When family of deceased ask for or demonstrate financial hardship especially to meet exit fees, legal and funeral costs.

  6. Are there any other factors that could affect the setting of a ‘trigger point’?

    When family of deceased ask for or demonstrate financial hardship

  7. Would any of the current provisions in Victoria and South Australia as set out in Appendix A (in the discussion paper), be of benefit to NSW residents of retirement villages?

  8. Can you think of any other benefits or costs of this proposal? What are they?

  9. As with residents with a non-registered interest, should the ‘trigger’ to commence the 42-day period begin when the resident permanently vacates the premises?

    yes especially upon death of owner/ lease holder

  10. Should one or both of the proposals be ‘grandfathered’? If not, please provide your reasons.

    yes.

  11. Please provide any further comments on the reforms.

At our discretion we may remove parts of submissions because of length, content, appropriateness or confidentiality (privacy) reasons.

Website https://www.fairtrading.nsw.gov.au

©