Retirement village exit entitlements and recurring charges cap

Submission cover sheet

  • Name of organisation or individual making this submission

    Glenaeon Village Residents Committee

  • Authorised delegate/contact person

    David J Judge

  • Position

    Chairman

  • Organisation

    Glenaeon Residents Committee

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?

    YES

  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?

    A Resident or the estate should be entitled to select their own selling agent be it the operators or their own selection without penalty.

  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?

    Time taken to: - Finalise contracts, - Carry out refurbishment.

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

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

    The need for a Resident to move into Full Care.

  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?

    The 42 day period to finalise payment of service fees is good for the Resident. However, if the Operator does not cover the ongoing service fee until the new occupier moves in then the remaining Village Residents have to pick up the cost affecting their operating budget.

  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

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

    Yes to both.

  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

©