Protecting Elderly Residents
On 25 October 2017 new legislation was passed in Queensland parliament that will provide better protection to Queensland’s elderly living in retirement villages.
The Housing Legislation (Building Better Futures) Amendment Bill 2017 will see amendments to the Retirement Villages Act 1999.
It also introduces a minimum 21 days for residents to review the contract before making the decision to move in to a Village, and limits the time for payment of a resident's exit entitlements to 18 months. (it requires Villages to “buy-back” (at market value) if the home stays unsold for 18 months)
Other changes include making the reinstatement process fairer by only requiring residents to leave their home in the same condition it was in when they first moved in (apart from fair wear and tear and any approved renovations) and introducing enforceable behaviour standards for Village operators.
These changes are great news and highlight the importance of being fully informed before transitioning to a Retirement Village. There are many things to consider.
Sykes Pearson Miller Lawyer, Andrew Markert has helped many people during this major life change and can assist you in navigating the legal complexities of this transition.
According to the Property Council of Australia, in 2014, there were more than 2300 retirement villages in Australia and around 184,000 seniors living in retirement villages. However that figure is expected to double with some predicting as many as 382,000 people will be living in retirement villages by 2025.View All News