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ARTICLE · 11 MAY 2009

Aged Care And Retirement Living Update - Regulatory Changes

DLA Piper Australia
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The NSW State Parliament has recently passed the Retirement Villages Amendment Act 2009 (NSW), which is due to commence in mid 2009.

AustraliaReal Estate and Construction
Alison Flannigan
Alison Flannigan

Reform s to New South Wales Retirement Village Laws

The NSW State Parliament has recently passed the Retirement Villages Amendment Act 2009 (NSW), which is due to commence in mid 2009.

The reforms affect capital works; annual management meetings; recurrent charges; introduces a settling-period of 90 days; budget matters; accounts; the protection of residents' financial entitlements; village safety; residents' committees; removal or alteration of fixtures and fittings; information for potential new residents and the role of the Consumer, Trader and Tenancy Tribunal.

It will not be possible to increase recurrent changes more than once in any 12 month period.

All NSW Retirement Village Operators will need to be aware of the new laws and review their Residents Agreements/ Village Contracts for consistency.

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