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?

    Katoomba and Lithgow are too far out.

  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?

    In undue circumstances.

  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?

    Operator should not interfere in private sale, should provide documents promptly, and provide prompt assistance in required to real estate agent.

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

    Has there been sufficient diligence e.g. advertising of premises.

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

    Proven hardship being experienced by resident. No definite start time of payment entitlement. Renovations can be held up by contractors.

  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.

    We want the alterations to apply to present contracts.

  11. Please provide any further comments on the reforms.

    A resident from our Unit Block had to continue to pay for her Unit for over two years, I do not believe that sufficient effort was made by Management to sell her Unit or to resolve her situation.

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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