• Download
  • Print

Most recent

Housing & Property

Realtor convicted of fraud to serve 12 months intensive correction order

13 February, 2020
Media release relating to the conviction of former director of Guncom Pty Ltd, Ms Alice Gaye Gunning on four breaches of the Property, Stock and Business Agents Act 2002.
Read more
Housing & Property

Real estate, property and tenancy law changes commence

25 March, 2020
Significant changes to residential tenancy and real estate and property laws have now started in NSW, following the commencement of major legislative reforms on 23 March 2020
Read more

11 July 2019

Housing & Property

Reforms supporting residents leaving a retirement village

NSW Fair Trading wants to hear from retirement village residents and their families, operators and anyone involved with the NSW retirement village sector about reforms concerning residents leaving a retirement village.

What’s this about?

Currently, the majority of NSW retirement village residents who leave a village are subject to ongoing general service fees and other charges. These costs have to be paid by the resident until their premises is sold and a new resident takes up the accommodation.

Outgoing residents may also face uncertainty and financial stress regarding payment of their exit entitlements. Under the current laws, this payment can be delayed until their premises is sold and a new resident moves in.

In response, the NSW Government has stated its intention to introduce the following:

  • a 42-day cap on the amount of time general service fees and charges must be paid by a resident
  • requiring payment of exit entitlements to former retirement village residents within 6 months for residents leaving villages in metropolitan areas, and 12 months for residents whose villages are in regional NSW.

These reforms address issues highlighted in the 2017 Inquiry into the NSW retirement village sector, including concerns about financial constraints on residents transitioning to aged care.

The Government is seeking feedback on how these reforms should be implemented.

Have your say

Read the discussion paper on our consultation page and have your say by 5pm Friday 16th August 2019.

You can also read the media release.

Prev Retirement village law changes start today
Next Have your say on Building Stronger Foundations