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?

  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?

  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?

    Is the value fair Frequency or advertising Publication facility used (circulation criteria) Has advertising been exclusive or not to a related organisation Has property been had inspections & if so at what rate The facilities available to the village (closeness of Shops, Hospitals, Aid etc)

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

    The area. Most sections of NSW there are waiting lists for persons wantiing to enter retirement villages, so a 6 months limit & NOT 12 months limit should be universally adopted.

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

    Entry barriers where a new entrant may have trouble selling their current residence. Special circumstances should exist for people moving from a farm to a village. There should be consideration also for people selling a business which could take some time.

  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

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

    NO! All changes whould apply to all residence.

  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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