Quick guide to the Retirement Villages Act Review
The Victorian Government is currently reviewing the Retirement Villages Act and has published a 60-page Issues Paper about the review. If you live in a retirement village, this is a great time to let the government know what needs to change in your industry. You can see a copy of the Issues Paper, as well as summaries of the main issues, at engage.vic.gov.au/retirementvillagesact.
What are the key issues?
The Issues Paper covers a wide range of issues in retirement villages, but here are two we think are especially important.
Financial models and Deferred Management Fees (DMFs)
Exit fees and DMFs are often charged when residents leave retirement villages, and can eat up a huge part of the value of the unit. Many HAAG members think that rules about exit fees should ensure residents aren’t ripped off, and that DMFs are set in a way that’s fair and transparent.
HAAG believes that existing forms of dispute resolution, VCAT, can be too complex, time-consuming and expensive. We believe the government should introduce a retirement housing ombudsman to provide free, accessible, and binding dispute resolution.
The Review also covers many other issues, including:
• What rights should retirement village residents have?
• How can we make the transition to aged care work better?
• Should contracts by simpler and clearer?
• What training should be required for retirement village managers?
How to make a submission:
You make a submission by writing down your opinion and concerns in your own words. You don’t need any special training or skills to express your views! Public submissions about the Issues Paper are due by December 6th and can be posted to Retirement Villages Act Review, Consumer Affairs Victoria, GPO Box 123, Melbourne VIC 3001, lodged online at or emailed to email@example.com.
Don’t want to write a submission, but want to have your say?
If you don’t want to write a submission but would still like your perspective included, please speak to Shane, Fiona or Chris from HAAG’s Retirement team by calling 9654 7389. We would love to know what you think we should include in our submissions to the review.
Want to stay involved?
The Retirement Accommodation Action Group (RAAG) meets monthly to discuss issues concerning retirement housing, and ways to work together for change. Contact Fiona Waters firstname.lastname@example.org or call 9654 7389.