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?

    I live in a village in WA

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

    Yes they are but it should be an independent valuer

  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?

    In the village where I live XXXX XXXXX XXXXX XXXX WA It is Purple Title which the majority did not understand I have to pay a Deferred Management Fee which will mean I have to pay back to XX( the management company) $200.000 as they take 30% of the sale price of my property. This prevents most residents from being able to afford to leave.

  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?

  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’?

  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?

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

  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

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